Stage Door Restaurant, Inc. v. LN HILL COMPANY

FICKLING, Associate Judge:

Appellant corporation purchased certain restaurant equipment from the appellee. The sale was secured by the corporation’s promissory note dated April 15, 1964, in the sum of $4,237.51, and executed by appellant James A. Kefalas, President of the corporation. Kefalas and appellant Samuel Schanker, also an officer of the corporation, endorsed the note by signing their names as individuals. 1 When the corporation defaulted on the note, appellee obtained a judgment for the balance of the note against the individual appellants as endorsers of the note.

Appellants’ sole…