John A. Christ v. Progressive Fire Insurance Company

The appellant is a Florida corporation whose business is that of a yacht broker. The transactions which are the subject of inquiry came about when the owners of certain yachts listed these yachts with the appellant for lease. The appellant found suitable lessees. The yacht owners were individuals or corporations conducting businesses unconnected with yachts. As is usual in yacht brokerage transactions, the appellant collected the rental price and remitted the amount, less commission, to the owners. These facts were stipulated.