Albright v. Weissinger

The following opinion was filed May 20, 1941:

Martin, J.

It appears from the complaint that on April 25, 1929, defendant Weissinger gave his promissory note for $8,000 to the plaintiff, and deposited as collateral certain shares of stock of Builders Needs, Inc., a corporation in whicH defendants were majority stockholders, holding a controlling interest. It is alleged that the loan was made to enable Weis-singer to pay for his subscription to the stock of said corporation. Defendant Gotfredson executed the following guarantee of payment:

“For value received, I hereby guarantee payment of the…