[DOWNLOAD] "Mead v. City National Bank" by Supreme Court Of Iowa. ~ Book PDF Kindle ePub Free
eBook details
- Title: Mead v. City National Bank
- Author : Supreme Court Of Iowa.
- Release Date : January 09, 1943
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 58 KB
Description
R.B. Mead, plaintiff herein, at the time of trial had been a resident of Manchester, Iowa, for about thirty days and previous to that time lived at Whitewood, South Dakota. E.L. Mead, defendant, and a member of the firm of Mead and Rigby, interveners, is the son of R.B. Mead. C.L. Rigby, or Charles L. Rigby, was the other member of the firm of Mead and Rigby and the husband of Jennie B. Rigby, who died after the transactions involved in this case took place and for whom Charles L. Rigby, executor, has been substituted. Rigby and wife lived on a 640-acre farm which was carried in the wife's name and was mortgaged for $53,000. Besides this, C.L. and Jennie Rigby were indebted to the City National Bank of Clinton and the Tipton State Bank and had given notes and mortgages securing such notes to the City National Bank of Clinton covering a large amount of hay and grain and growing crops and other personal property on the farm. On August 27, 1934, C.L. Rigby and E.L. Mead executed a contract for the creation of what is called in the record a ""partnership agreement,"" for the purchase, feeding, and sale of lambs, and dealing in livestock. Under this contract Rigby was to sell to the firm of Mead and Rigby 200 tons of soybean hay at $7 per ton, approximately 10,000 bushels of corn growing on the Rigby place, and some fodder, together with the use of feeding yards and some equipment. Mead was to arrange for the financing, purchase the lambs, superintend the feeding, and buy and sell livestock for the firm. The profits were to be divided, the first $100 a month going to Mead, the balance to defray expenses or be divided equally between Mead and Rigby, and all net profits to go one third to Rigby, one third to Mead, and one third to the company (Mead and Rigby) obligations.
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