Progressive Design, Inc. v. Olson Bros. Manufacturing

This is an action brought by Progressive Design, Inc., to recover from defendant Olson Brothers Manufacturing Company for breach of contract. Plaintiff had entered into a security agreement and assigned the contract to intervener Security State Bank of Oxford, Nebraska. Plaintiff entered into a settlement with defendant and dismissed its petition with prejudice. The court thereupon dismissed the intervener’s petition. We reverse the judgment of the District Court.

On March 31,1970, plaintiff, by written contract, agreed to manufacture and sell to defendant certain quantities of hydraulic…