Youngren v. Rezzonico

OPINION

OGG, Presiding Judge.

The controlling question in this case is whether it was proper to set aside the corporate entity under the “alter ego” theory and hold a stockholder liable for a corporate debt.

The defendant-appellant Louis P. Youngren, as President of Taurus Industries, Inc., purchased a registered quarter horse from the plaintiff-appellee Richard A. Rezzonico. As payment for the horse Rezzonico received a $10,000 promissory note signed by Louis P. Youngren, as President of Taurus Industries, Inc. When the note was not paid and Taurus Industries, Inc. went into bankruptcy,…