Young v. Sorenson

Opinion

FLEMING, J.

Action on a promissory note.

In January 1963 Charles and Marcille Sorenson gave a promissory note to Red Rowe Productions for $11,500 at 7 percent interest, principal and interest payable in installments of $100 a month. In February 1963, as part of a divorce settlement between Ralph Rowe and Irene Young, Ralph Rowe caused Red Rowe Productions to assign the Sorensons’ promissory note to Young, and he guaranteed payment of the note “to the extent of $10,000 only.” Thereafter, Ralph Rowe made monthly payments of $100 to Young. The Sorensons made sporadic payments on the note,…