Kearney v. Williams

MEMORANDUM OPINION

GARRETT, Judge.

¶ 1 Defendants, Kearney and Williams, were officers, directors and employees of D *274& M Roof Service, Ine. (D & M). In January, 1990, Kearney, as president of D & M, executed a promissory note in favor of F & M Bank & Trust Co. (Bank) in the amount of $30,000.00, payable in 61 days. From time to time when the note became due, it was renegotiated, the interest was paid, the interest rate was adjusted, and the due date was extended. The last due date was May 31, 1994. On January 25, 1991, the Oklahoma Tax Commission suspended D & M’s charter for failure to pay…