Berkner v. Ekman

The facts in this case are not in material dispute. As disclosed by the findings of fact it appears that the Electric Bill Board Oom*278pany is a corporation engaged in the business indicated by its name. The company was in need of funds to carry on its affairs and in February, 1917, the secretary, being duly authorized in the premises, solicited plaintiff to procure a loan for it in the sum of $4,500. Plaintiff was an officer and director of the State Bank of Sleepy Eye and through his efforts and at his instance the bank made the loan, upon the condition that plaintiff become responsible for…