Schreiber v. Armstrong

NOBLE, Justice.

Plaintiff brought suit against defendants on three promissory notes. Defendants admitted liability on the notes but counterclaimed, seeking an offset for damages caused by plaintiff’s application of a payment of $1,000.00 made to him as secretary-treasurer of Armstrong-Schreiber Agency, Inc., to defendants’ indebtedness to the corporation instead of to the purchase of corporate stock as directed. The corporation was joined as cross-defendant and the defendant cross-claimed for an accounting, for the issue of 10 shares of stock, and for wages due defendant, Kathryn Armstrong,…