Northwestern National Bank v. Foster

Loring, Justice.

This is a suit upon a guaranty made by the defendants to secure the payment of loans made to the corporation of which they were directors. Plaintiff had a directed verdict as against their defense of conditional delivery, and they have appealed from an order denying their motions for judgment or a new trial.

In October, 1926, the five defendants together with Guy A. Thomas, I. C. Klepper, and one other met for the purpose of organizing a corporation to manufacture and sell a coal-saving device in which they were interested. The defendants, Klepper, and Thomas were to be…