North Carolina Cotton Growers Co-Operative Ass'n v. Tillery

Tbe contract between tbe parties witb respect to tbe 1926 cotton crop of defendant specified tbat tbe cotton was to be placed in tbe “long pool,” to be marketed in a period of time, probably six to twenty-four months in tbe discretion of tbe directors.” Tbe defendant contends tbat tbe “discretion of tbe directors” was limited by tbe language of tbe contract so tbat tbey could not sell in less tban six months and must sell within twenty-four months. Conceding, though not deciding, tbat tbe interpretation of tbe contract urged by defendant, is correct, nevertheless it does not appear tbat tbe…