This section contains the nature of the case and procedural background.

Grinnell (P) entered into a contract with Willy to equip its factory with a fire extinguishing apparatus for $243,614. Willy did not keep up with the required payments under the contract. P suspended work and insolvency proceedings were instituted against Willy. It was agreed by all parties that the fire system was 78% installed. Receivers were appointed, and the lien of $139616.57 was paid. P then filed for $24,919.94 in lost profits. That claim was rejected by the receivers and they refused to allow P to finish the work. The Durant Motor Company purchased Willy and employed P to finish the job. The trial court diminished the damages by the profit from the Durant contract. P appealed.

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