Randolph v. Ballard County Bank

Opinion op the Court by

Judge O’Rear

Affirming.

The Ballard News Printing Company was an incorporated company, under the laws of this State. Appellants and W. F. Purdy were its directors. In its articles of incorporation the limit of its indebtedness was fixed at $500. It became indebted' to appellant bank on April 7,1905, $300 evidenced by note; and on February 6,1909, it executed another note to the bank for $1,429.31. The latter was to close an overdraft.

The company made a general assignment for the benefit of creditors. Its assets amounted to about $200.

This suit was brought by the bank…