Romola v. Dennis, Inc.

BABCOCK, Judge.

Plaintiff, Thomas F. Romola, appeals the summary judgment entered in favor of defendants, Dennis, Inc., and Thomas Turner. We reverse.

Plaintiff and defendant Turner were shareholders in Dennis, Inc. (the corporation). Plaintiff brought this action to recover for default on a $55,000 promissory note of the corporation. Plaintiff alleges that Turner is personally liable on the corporate note because, pursuant to a stock transfer agreement executed subsequent to the note, plaintiff agreed to transfer 300 shares of stock in the corporation to Turner as consideration for Turner’s…