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ERNEST ROTH & CO. INC. v. WERBY

Docket No. 19753.

199 Cal.App.2d 818 (1962)

19 Cal. Rptr. 151

ERNEST ROTH AND COMPANY INC., Plaintiff and Appellant, v. DONALD E. WERBY et al., Defendants and Respondents.

Court of Appeals of California, First District, Division Three.

February 5, 1962.

Attorney(s) appearing for the Case

Miller, Osborne, Miller & Bartlett and O. Leland Osborne for Plaintiff and Appellant.

J.P. Mandl for Defendants and Respondents.

DRAPER, P.J.

Plaintiff had agreed to finance the purchase by Allied Wholesale Lumber Company, a corporation, of large quantities of Swedish insulation board. As the market for this product weakened, plaintiff sought relief from its obligation. Defendant Donald E. Werby was president of Allied. He and his wife executed a letter by which he acknowledged an advance by plaintiff, and agreed to secure letters of credit which would cover plaintiff's remaining financing...

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