Freed Finance Company v. Stoker Motor Company

ELLETT, Justice:

This is an appeal brought by defendant Stoker Motor Company from a summary judgment in favor of plaintiff on a note secured by a mortgage on real property.

A summary judgment is proper where there is no genuine issue as to any material fact and the moving party is entitled to judgment as a matter of law. 1

In this case the complaint alleges the execution of a note in the amount of $400,000 secured by mortgages.

The answer admits the execution of the note and mortgage by an officer of the corporation but denies that the board of directors authorized the giving of the mortgage. It…