Thornton v. SOUTHWEST FLOUR & FEED COMPANY

MOLLOY, Judge.

In this appeal, we are asked to set aside a judgment of the trial court, sitting without a jury, holding that appellants are liable under the terms of an instrument signed by them guaranteeing the indebtedness of a corporation to a creditor of the corporation.

In October, 1962, all of the appellants were shareholders and directors of Garden City Farms, Inc., a corporation engaged in farming a tract of land in the Harquahala Valley. It had been decided that Garden City would use 420 acres of its land to raise a crop of safflower during the 1962-63 crop season.

To obtain needed…