Biel v. Crosse & Blackwell, Ltd.

This is a motion for summary judgment. The plaintiffs proceed on a written guaranty executed by this defendant, guaranteeing the payment of the dividend on the preferred stock of Crosse & Blackwell, Inc. The defense set forth in the affidavit in opposition is that Crosse & Blackwell, Inc., has been dissolved, and, therefore, the guaranty is no longer operative.

At the argument I was of the opinion that it will be an issue of fact as to whether or not the extinction of Crosse & Blackwell, Inc., was brought about in good faith or otherwise. I have since read the cases cited by the defendant, and…