Kirby v. Holman

The plaintiffs, who are residents of New York, own the Pilgrim Hotel in Marshalltown. This is a ninety-two-room, four-story hotel. Their agent in Marshalltown is the Fidelity Savings Bank of Marshalltown, Iowa, and Mr. Berkley, the vice president of that hank, was theo officer in charge of the Kirby interest. On July 1, 1938, the plaintiffs sold the furniture and equipment in the hotel to the defendants, Dora C. Holman and her son L. Grant Holman, and leased the hotel building to the purchasers at a monthly rental of $300. The purchase price for the furniture and equipment was $16,000. The…