Meek v. United States Rubber Tire Company

George Rose Smith, Justice.

In 1963 Harold E'. Meek and Clint Spencer organized a corporation, M & S Royal Tire Service, Inc., and entered the service statjon and tire business together. In order to establish the corporation’s credit with United States Rubber Company the two men and their wives executed agreements with the latter company, guaranteeing to pay any amounts that might be owed by M & S' Royal to United States Rubber Company for merchandise. In 1964 Meek withdrew from M & S Royal and sold his stock therein to Spencer. Thereafter M & S Royal was adjudicated a bankrupt and was…