Collins v. Throckmorton

McNEILLY, Justice:

The defendants below appeal from a money judgment for the plaintiff entered by the Superior Court after a non-jury trial. The basic facts underlying the controversy are as follows:

Plaintiff Philip Throckmorton and defendant Robert Collins were the sole stockholders (as well as the officers and directors) in Central Ceilings, Inc. (hereinafter referred to as “Central”). On March 26, 1973, Central borrowed $10,000. from the Wilmington Trust Company (“the bank”); a demand note therefor was executed by the corporate officers. On the back of the note, the plaintiff, his wife and…