First Nat. Bk. of Scranton v. Payne

Opinion by

Mr. Justice Linn,

The plaintiff bank sued the defendant, Payne, on two non-negotiable notes made and delivered by a corporation called Bruce Payne Co. Inc. to Ralph W. Rymer, the payee of the notes.

The statement avers that nearly all the capital stock of the corporation was owned by the defendant Payne and by Messrs. Buchanan, Bell, Crossman and Rymer, all of whom were officers or directors or both. The financial condition of the corporation was snch that by agreement acknowledged August 4, 1933, made by Messrs. Buchanan, Bell, Crossman and Rymer of the first part, the corporation of…