Traders Bank of Kansas City v. Cherokee Investment Co.

WASSERSTROM, Judge.

Plaintiff Bank sues on a $900,000 promissory note executed by defendant Cherokee Investment Co., Inc. and guaranteed by thirteen of its shareholders who were originally also defendants in this lawsuit. A judgment by default was entered against *123Cherokee. It filed a motion to set aside the default judgment, and, when the motion was overruled, took this appeal. We reverse.

On January 14, 1981, the Bank filed its petition in this case in Jackson County against Cherokee and the thirteen individual stockholders. Some of the individual defendants filed timely motions challenging…