Michigan Trust Co. v. Pierson-Hollowell Lumber Co.

MOORMAN, Circuit Judge.

Appellee sold a ear of lumber to the Cabinet Makers’ Guild. Arthur H. Konkle, a lumber broker and a director of the Guild, acted for appellee in making the sale. The Guild could not pay the bill when due. It was in need of money to continue its business, and especially to finish a certain cutting of furniture then in process. Konkle agreed to advance to it $6,500, if given security therefor, and also for the claim of appellee. The security was given in the form of a bill of sale. It stated that for valuable considerations the Guild “does hereby bargain and sell to the…