Casarotto v. Mortensen

OPINION

This is an appeal from a grant of summary judgment. Because material issues of fact were before the lower court, we reverse.

In June, 1980, Casgul of Nevada, Inc. (Casgul), a Nevada corporation of which appellants are officers, purchased the Nashville Nevada Club from respondent. As part of this transaction, appellants executed an unsecured promissory note to respondent for $150,000.00 at 17 percent interest on behalf of the corporation. Appellants also signed the note individually as cosigners. By its terms, payment on the note was due September 14, 1980.

On September 9, 1980, another…