International Shoe Co. v. Stewart

In October, 1920, appel-lee, a merchant in business at Cookville, being indebted to Sanger Bros, and others, including appellant, in sums aggregating $7,-780.99, which he was not able to pay in full, turned his stock of goods over to said Sanger Bros., with the understanding that they were to make a settlement with appellee’s creditors if they could. November 2, 1920, Sanger Bros, vn-ote each of said creditors, advising him that appellee was insolvent, and that they had purchased his stock of merchandise for $1,375. “This purchase,” they said,

“was made under the Bulk Sales Law of the state of…