First National Bank of Clayton v. Frisco Park Realty Co.

GUNN, Judge.

Defendant-appellant Frisco Park Realty Company appeals from a judgment against it in a court tried case for the principal amount due on a renewal demand note of $8,500, interest in the amount of $2,444.61 and attorneys’ fees of $1,094.47, aggregat ing $12,039.08 with interest thereon at 6% per annum from date of judgment. 1

The primary issue is whether Frisco Park’s corporate secretary had authority to bind Frisco Park to a guarantee for a loan to another corporation. We find that Frisco Park was not liable for the payment of the loan to plaintiff and therefore reverse the judgment…