Kemp-Pontiac-Cadillac, Inc. v. S & M CONSTR. CO., INC.

The appellee, S & M Construction Co., Inc. (S & M), instituted suit against the appellant, Kemp-Pontiac-Cadillac, Inc., upon the corporation’s confessed judgment note. Prior to trial, with leave of court, an “Amended Narr” was filed in which the corporate appellant’s president,. William G. Kemp, was also named a party defendant. The latter’s individual liability was based upon alleged fraud in providing a false financial statement which induced S & M to make the loan for which the confessed judgment note was received. Judgment in the amount of $66,500 was entered below against both defendants…