Frenkil v. Hagan

Isaac Frenkil and Samuel M. Frenkil, trading as Baltimore Plumbing and Supply Company, purchased a lot of black steel pipe at a public auction, held at Norfolk, Virginia, by the Eastern Surplus Property Control of the War Department of the United States Government for $12,241.10, malting a deposit of $1,200 cash, together with a letter of credit from the National Bank of Baltimore, whereby said bank agreed to accept a ninety-day draft against said company accompanied by bill of lading covering the whole or any part of said pipe, the total of said draft not to exceed $11,041.10, the company…