Crane

Crane v. Reynolds

Good Law
1918 Cal. App. LEXIS 21·39 Cal. App. 83·178 P. 301
Court of Appeal of CaliforniaDecember 7, 1918Civ. No. 2598.California417 words

Opinion

Lead Opinion

Lennon, J.

Action by plaintiffs on a promissory note given by defendant in payment of Ms proportionate indebtedness upon certain notes paid by plaintiffs and of which the plaintiffs and defendant were common guarantors. Plaintiffs had judgment as prayed, and defendant appeals.

The appellant in his brief states that his defense to the action was based upon eight grounds, setting them forth; but the only propositions argued by him are three in number, and we will take them up in their order.

The first is that the respondents were stockholders in a corporation, which, according to the contention of the appellant, was the principal debtor upon the notes of which respondents and appellant were guarantors, and that consequently they were primarily liable as such stockholders for a certain proportion of the indebtedness represented by the notes. A complete answer to this contention is found in the finding of the trial court, made upon sufficient evidence, that the corporation was not the principal debtor upon said notes and was not interested therein.

Appellant’s second proposition is that the respondents failed to use ordinary diligence in compelling the stockholders of the corporation to…

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