Vrooman Floor Covering Inc. v. Dorsey

Otis, Justice.

This is an appeal from an order granting a motion of defendant, James R. Dorsey, to vacate a default judgment.

Until April 1, 1962, defendant was an officer, employee, and stockholder of a company known as Better Floors, Inc. Thereafter he retained his position as secretary but was no longer actively employed by the company. Nevertheless, on April 17, 1962, he executed a written agreement guaranteeing up to $3,000 any credit extended by plaintiff to the corporation. According to defendant’s own affidavit, the purpose of the guaranty was “to obtain further credit from Vrooman…