Litton v. Hanley

OPINION

DUGGAN, Justice.

This is an appeal from a take-nothing judgment entered against appellant, the payee on a promissory note, on his suit against appellee, the maker, for payment under the note.

In 1983, appellant, Richard W. Litton, and appellee, Scott Hanley, formed a corporation, S & D Enterprises, Inc., for the purpose of acquiring and operating a restaurant. Each invested $30,000 in the corporation. The restaurant was not successful and, in June 1984, after disagreeing on the future course of the business, Hanley offered to buy Litton’s interest in the business.

On June 12,1984, the two…