Bryant Realty Corp. v. Lorberbaum

Mobley, Justice.

The appeal is from a judgment overruling a general demurrer to a petition brought by minority stockholders, owners of 25% of the stock of Bryant Realty Corporation to enjoin the majority stockholders, who owned 75% of the stock, from signing as accommodation indorser guaranteeing-obligations of the Lawtex Corporation, in which corporation petitioners also owned 25% of the stock and the two defendants 75% thereof.

The petition shows that the original charter of Bryant Realty Corporation did not authorize the corporation to make any purely accommodation guaranty, indorsement or…