Ionic Petroleum, Limited v. Third Finance Corp.

BERRY, Justice:

This is an appeal upon the original record from a judgment of the trial court sustaining the individual defendant’s motion to dismiss, and dismissing the action as to such defendant; and from the order and judgment sustaining the corporate defendant’s motion to strike and demurrer to plaintiff’s petition, and dismissing- plaintiff’s petition with prejudice. The appeal evolved from the factual situation - hereafter related.

On January 28, 1959, the Illini Oil Company, Inc. executed a promissory note to the corporate defendant. This note:was in the principal sum of $55,000.00…