Idaho First National Bank v. Wells

DONALDSON, Justice.

This is an appeal involving an action filed by plaintiff-respondent Idaho First National Bank (hereinafter Idaho First) to collect on separate guarantees signed by defendants-appellants Ivyl and Novell Wells for certain loans that the bank made to Powell Feed Lots, Inc., of which the appellants were stockholders.

In 1972 Novell Wells and F. J. Powell operated a cattle feeding operation as partners under the name of Powell Feed Lots. In 1973 the appellants, as equal shareholders together with F. J. Powell, as president and shareholder, incorporated the operation under the…