Johnson v. Sams

This is an action to recover on a promissory note. The only issue is whether defendants signed the note as individuals or on behalf of a corporation. The jury found defendants personally liable, and they appeal. We affirm.

In March 1965, plaintiffs had a financial interest in a marble business called “Fabeo Sales.” With a view to putting the business on its feet, plaintiffs approached defendants who owned a similar company called “Queensmarble.” Under the agreement which followed, plaintiffs were to invest $10,000 in a corporation which was to be formed and were to seek additional capital.…