Thorpe v. Story

THE COURT.

This action was brought by the members of a bondholders’ protective committee against eleven guarantors to recover upon a written guaranty of a $350,000 bond issue of The Annandale Corporation, which guaranty reads as follows:

‘ ‘ GUARANTEE. BE IT REMEMBERED that the undersigned, being stockholders of THE ANNANDALE CORPORATION, a corporation organized and existing under the laws of the State of California, in consideration of the issuance and sale of three hundred fifty thousand dollars ($350,000.00) in par amount of the First Mortgage Six and One-half Per Cent Sinking Fund Gold…