Kafka v. Pope

This is a case where the two major stockholders in a corporation signed separate personal guarantees with the same bank to secure the indebtedness of the corporation. We hold that a guarantor may be entitled to contribution from the other guarantor, even though their guarantees are evidenced by separate instruments, if the debt for which they are liable is the same. We reverse the trial, court's conclusion to the contrary.

Joseph J. Kafka and James W. Pope were officers and shareholders of Wisconsin Truck Center, Inc. This corporation executed three promissory notes payable to M & I Northern…