Doggett v. Heritage Concepts, Inc.

UHLENHOPP, Justice.

This appeal involves three issues which arose in an action on two promissory notes.

The business dealings of the parties were somewhat complicated. Defendant Heritage Concepts, Inc., owed various creditors. Another corporation, Memorial Lawn Cemeteries, Inc., borrowed money from a third party on two notes, and plaintiff Charles F. Doggett, who owned Memorial Lawn’s stock, guaranteed those notes. The proceeds of those notes were used to pay creditors of Heritage. Heritage made and delivered its two notes to Doggett for the amounts its creditors were paid. One of these notes…