Gearheart v. Citizens Bank

Opinion of the Court by

Judge Tilford

Affirming.

This action was instituted by appellee against the appellant and two other individuals, Evans and Townsend, to recover the balance due on a $2,000 promissory note executed to the Morehead .State Bank, appellee’s predecessor in title, by the Crandall Lumber Company, a defunct Georgia corporation, the stock of which, in its entirety, was owned by the appellant and his co-defendants. Their liability was predicated upon their stock ownership, the voluntary dissolution of the corporation, while solvent, without notice to appellee, and their alleged…