Farmers Savings Bank of New Albin v. Bunge

At all times mentioned herein, the appellants were stockholders in the appellee bank, and they, together with two other parties, constituted the board of directors of said bank. On the 11th day of December, 1923, the appellants, except the appellant Von der Ohe, had signed a written contract, jointly and severally guaranteeing the payment, on or before two years from said date, of certain bills receivable held by said bank. On November 14, 1924, the appellee bank was under examination, and a meeting of the board of directors was then held. All or a large portion of the bills receivable which…