First Wisconsin National Bank of Rice Lake v. James E. Klapmeier

LAY, Circuit Judge.

Plaintiff, the First Wisconsin National Bank, sought recovery from defendants, the Klapmeiers, on personal guarantees of a corporate indebtedness of $37,795.86 previously reduced to judgment against Leisure Research, Inc. in the Wisconsin state courts. The defendants were stockholders of the corporation. The defendants alleged that the guarantee agreement was fraudulently obtained 1 and counterclaimed for damages from alleged defamatory statements about the defendants. The case was tried to the court, the Honorable Irving Ben Cooper. * The trial court entered findings of…