Black Bull Enterprises, Inc. v. Hall

Plaintiff appeals a judgment for defendant in this action to recover on a promissory note on which defendant was a guarantor. We affirm.

In 1983, plaintiff agreed to sell its shares in Grand Development Company back to Grand Development Company. The sale enabled Schwartz to gain control of the company. Schwartz was president of Grand Development and is the husband of defendant’s daughter. The terms of the sale required Grand Development, through Schwartz as president, to execute a promissory note personally guaranteed by him, his wife and defendant. The note was not paid and, in 1987, Schwartz…