Hullender v. ACTS II

Shulman, Judge.

As a part of a divorce settlement, appellee-Acts II, a corporation whose sole stockholders were appellant-Mrs. Hullender and appellee-Mr. Hullender, agreed to purchase all the common stock owned by appellant-Mrs. Hullender. In accordance with this agreement, Mrs. Hullender transferred her stock to Acts II in return for a debenture note and a personal guaranty from Mr. Hullender. When the corporation defaulted on this obligation and Mrs. Hullender’s demands for payment were refused by appellees, appellant-Mrs. Hullender commenced this action seeking to collect on the debenture…