Consolidated Discount Corp. v. Holton Street State Bank

In its complaint the plaintiff alleged and upon this appeal the plaintiff contends that the transaction of August 2, 1941, between the plaintiff and Brill Uniforms was a purchase of an interest in the proceeds of the two contracts between Brill Uniforms and the United States government. This contention raises the principal question for decision upon this appeal. The decision of other questions raised are in the main dependent upon it. It is considered that the circuit court correctly held that the transaction was a loan.' It said, among other things:

“In testing the force and applicability of…