Bank of Illinois v. Bill's King City Stationery, Inc.

On June 26, 1986, plaintiff, Bank of Illinois in Mt. Vernon, brought an action in the circuit court of Jefferson County against Bill’s King City Stationery, Inc., a/k/a King City Stationery, Inc., Bill Petersen, Lana Petersen McKinney, and Albert and Maxine Weerts, seeking damages in the amount of $48,450.86 for default on a promissory note. The Weertses filed an answer containing an affirmative defense, wherein the Weertses alleged that defendants Petersen and McKinney were not stockholders or officers of the corporation, had no authority to enter into the agreement referred to in the…