Guardian State Bank v. Humpherys

STEWART, Justice:

Guardian State Bank brought this action on a promissory note executed by appellant Roy W. Humpherys. From a summary judgment in favor of the bank, Humpherys appeals.

On July 11, 1979, Humpherys obtained a loan from Empire State Bank in the principal amount of $100,000, evidenced by a promissory note in favor of Empire for that amount plus interest. The note was due and payable in full on January 8, 1980. The loan was obtained to enable Humpher-ys to purchase the last $99,960 of the initial $2,000,000 stock offering of Empire. The stock offering consisted of 50,000 shares of…