Millikin National Bank v. Shellabarger Grain Products Co.

Through a series of financial transactions between the Millikin National Bank of Decatur, appellee, and Shellabarger Grain Products Company, (hereinafter called appellant,) the latter became indebted to the former in March, 1936, on a promissory note in the amount of $28,030.30. Owing to a considerable amount of indebtedness to others, the appellant was in a precarious financial condition. Attempts were made to procure loans from the Reconstruction Finance Corporation and also to reorganize. During the course of these efforts, a discussion was had between appellant and appellee with respect…