Kutil v. Floyd Valley Manufacturing Co.

— The record facts disclose that the appellee company is a furniture manufacturing corporation, with its principal place of business at Sioux City, Iowa. The decedent, S. F. Kutil, had been active in the organization of the company, and was one of the members of the board of directors, and president of the corporation, at the time of his death.

The paid-in capital of the corporation was small, and in the year 1925, the business of the company required assistance, both in financial and in production and management matters. In November, 1925, an agreement was entered into between the company and…