Sherwood & Roberts-Oregon, Inc. v. Alexander

The issue is whether the individual defendants are personally liable on a note executed by “Iron Mountain Investment Co., Inc. By David Alexander [one of the defendants].” The trial court, sitting without a jury, held the defendants were not liable and the plaintiff appeals.

The defendants are real estate developers. They held title to some land either as individuals or in an unincorporated joint venture known as Iron Mountain Investment Company. Defendants planned to develop this land. The plaintiff is in the business of lending money and securing loans from other sources for plaintiff’s…