First Small Business Inv. Co. v. Sistim, Inc.

Opinion

GUSTAFSON, J.

Defendant Patrick F. Koenigsberger was the president and principal shareholder of defendant Sistim, Inc. In 1965 Koenigsberger executed a promissory note in favor of plaintiff in the amount of $50,000 and Sistim, Inc., executed a promissory note in favor of plaintiff in the amount of $25,000.

In 1968, the notes not having been paid, plaintiff brought two actions, one against each defendant. Koenigsberger was served July 8, 1968, and Sistim, Inc., was served August 19, 1968. Default was entered against Koenigsberger July 24, 1968, and against Sistim, Inc., September 17,…