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![]() ![]() ![]() It said: "We do not decide, as did the Trial Examiner, that the sales contract between Jones and the Company, whereby the latter sold its Malden plant machinery to the former for use in Portageville is not `a real contract' and of no binding effect upon Jones. The Board, however, could not apparently see its way clear to go along on the Trial Examiner's logging of the contract between New Madrid and Jones as a mere sham and as not being required to be accorded any legal recognition in the situation. He also agreed not to draw out of the business, until the purchase price had been paid, more than a certain amount monthly in personal expenses and compensation, unless New Madrid gave its written consent thereto. Jones in turn agreed that he would not engage in making garments for anyone else, except with New Madrid's approval. In the contract, New Madrid had agreed to advance to Jones "sufficient funds to set up the plant proposed to be established at Portageville, Missouri," and to give Jones the manufacturing work on "at least fifteen thousand (15,000) dozen garments during a period of twelve (12) months after said factory shall have been placed in operation, provided, however, that deliveries are reasonable and are completed in the normal delivery time." New Madrid further agreed to make cash advances on such work as was being done for it at any particular time, to enable Jones to meet his payrolls. The sale to Jones was made under a conditional sales contract, which required the payment by him of a certain purchase price, on a fixed installment basis, without prepayment privilege. ![]()
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