Jacob Straf v. Colonial Factors Corporation

GARDNER, Circuit Judge.

This appeal is from a judgment in favor of appellee as plaintiff in an action brought by it to recover the balance due on some 103 separate promissory notes executed by White House Restaurant, Inc., a corporation whose entire capital stock was owned by appellant. The notes were secured by a chattel mortgage on the furniture and fixtures of a restaurant owned and operated by White House Restaurant, Inc., the maker of the notes. In addition to the chattel mortgage security, payment of the notes was guaranteed by appellant by endorsement on the back of each note as follows: