Merchandise National Bank v. Kolber

The Merchandise National Bank of Chicago (Bank) brought action upon a note executed by Marshall Kolber, which was in default. Kolber in turn filed a third-party complaint against William F. Bochte and Barry J. Fox, based upon their indemnity agreement and note to Kolber in connection with his primary note to the Bank. Only Bochte answered the third-party complaint. Judgment was entered on the pleadings as to the complaint in favor of the Bank and against Kolber. Following a bench trial, judgment was entered for Kolber and against both Bochte and Fox as to the third-party complaint.

Bochte…