Miami National Bank v. Willens

Opinion by

Mr. Justice Cohen,

Defendant-appellees, Paul M. Willens and Arthur F. Willens, both residents of Florida, were president and secretary respectively of Peninsular Fiber Glass Products, Inc. On or before August 21, 1959, appellees acting both in their capacity as officers of the corporation and as individuals, made and delivered a $7,000 note to the plaintiff-appellant, Miami National Bank. At the time of this transaction each appellee owned a one-quarter fee simple interest in a property located in Philadelphia. On December 17, 1959, appellees transferred without consideration their…