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STEPHENS-MILKES-COOK CO. v. SMEAD

Docket No. 38, Calendar No. 48,403.

362 Mich. 474 (1961)

107 N.W.2d 775

STEPHENS-MILKES-COOK COMPANY v. SMEAD.

Supreme Court of Michigan.

Decided February 28, 1961.

Attorney(s) appearing for the Case

Low, Iwaniuk & Boothby, for plaintiff.

Cain & Ball and Feeney & Stratigos, for defendants.

PER CURIAM:

Defendants Smead are president and secretary respectively of Smead Brothers Furniture Company, an Indiana corporation. In 1956 the plaintiff, desiring to obtain the exclusive right of selling a new line of furniture to be manufactured by the Smead Company, negotiated with defendants toward such an agreement. Due agreement was reached. One of the stipulations was that plaintiff was to loan the Smead Company $6,000 "for working capital."

The agreement...

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