Greenville Supply Co. v. Whitehurst

The demurrer admits the plaintiffs’ allegations and by these allegations the nature of the action and the relation of the parties must be determined.

The Greenville Supply Company, a corporation, became indebted to various parties in the sum of $96,928.56. The individual plaintiffs and the defendant, S. 0. Whitehurst, Sr., who were directors in the corporation, endorsed certain notes of the company under their mutual agreement that each endorser should be liable in proportion to the value of his stock. The endorsers agreed to raise $50,000, each to pay a specified sum. Whitehurst was to…