Forsstrom v. Utility Steel Co.

Action is brought by the plaintiffs to recover the sum of $500 upon a trade acceptance, drawn by the Orbis Corporation on October 1, 1926, and accepted by the defendant on the said date, and payable on December ■ 1, 1926. The said trade *472acceptance was presented on the said date, when it was payable, and payment was refused and had been stopped by the defendant. The said trade acceptance evidenced the amount due from the defendant to the Orbis Corporation by reason of a prior sale of steel by the said Orbis Corporation to the defendant. The plaintiffs became the holders of said trade…