Steeple v. Max Kuner Co.

On January 1, 1920, the appellant executed three promissory notes, each in the sum of $2,000, payable one year after date. The respondent was a payee of one of the notes and is now assignee of the other two. This action was brought to recover on these notes, and from a judgment in favor of the respondent, this appeal has been prosecuted.

The appellant is a corporation having five stockholders, who are also the trustees. The following extracts from the minutes of the stockholders’ meetings gives all the facts necessary to be considered in passing upon this appeal. On September 5, 1918, the…