Kay Manufacturing Corp. v. Arkus

The complaint sets forth two causes of action to recover the sum of $691.80 on two unpaid notes indorsed by the defendant. Each party seeks summary judgment.

The essential facts are that on October 4, 1957 Arbuck, Inc., by its president, Joseph Arkus, defendant herein, made and delivered the notes payable to plaintiff’s order, due respectively on January 31 and February 28, 1958. They were indorsed by the defendant in his individual capacity. On March 4, 1958 the corporate maker filed a petition for arrangement under chapter XI of the Bankruptcy Act. Plaintiff urges that defendant knew that…