MacNerland v. Johnson

Quillian, Judge.

This is an action upon an indemnification agreement executed by defendants to the plaintiff in connection with a stock purchase agreement of a corporation to hold him "free and harmless from any loss or payment by virtue of guarantees” which he had previously made as an endorser "or otherwise,” securing loans made to the corporation being purchased by the defendants. Plaintiff obtained a verdict in the amount of $57,000. Defendants’ motion for a new trial, as amended, was denied and they have appealed to this court. Held:

1. In arriving at a decision to purchase the…