Grotefend v. Valley Laundry Co.

Opinion by

Gawthrop, J.,

This is an appeal from an order discharging a rule to open a judgment entered by confession on a non-negotiable promissory note. The following facts are undisputed: In June, 1923, the defendant and C. E. Snyder and G-. Z. Haser purchased from the plaintiffs all of the stock of the Valley Laundry Company, a corporation, and began to operate the plant. Snyder became the president of the corporation, the defendant its vice-president and Haser its secretary and treasurer. The defendant paid cash for her stock, but Snyder and Haser remained indebted to the plaintiffs for a…