Roseboom v. Whittaker

The appellants were three of four directors of the Charles Whittaker Manufacturing Company, which was insolvent. They took up indebtedness of the company, for which they were sureties, and by resolution as directors elected one of themselves as treasurer, to issue to themselves the judgment note of the company for the amount of such indebtedness, and some others, unpaid, for which they were also sureties.

The treasurer obeyed, judgment was entered and execution put into the hands of the sheriff, who levied on all the property of the company liable to execution. Before the bill in this case was…