Southwest Bank of Omaha v. Moritz

This case involves the financial affairs of Verían J. Rumbaugh, who in 1974 began the operation of a hardware store as a sole proprietorship under the trade name of R & S Sentry Hardware, and in 1975 incorporated the business as R & S Hardware, Inc., which corporation filed a petition for voluntary bankruptcy in 1977. R & S Hardware, Inc., was wholly owned by Rumbaugh.

The appeal arises from two separate actions which were, pursuant to a stipulation of the parties and by order of the District Court, joined for trial in that court. In one action, Southwest Bank of Omaha sued John J. Moritz for…