(Download) "Industrial Investment Corporation v. C. M." by Supreme Court of Idaho No. 12547 ~ eBook PDF Kindle ePub Free

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eBook details

• Title: Industrial Investment Corporation v. C. M.
• Author : Supreme Court of Idaho No. 12547
• Release Date : January 13, 1979
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 64 KB

Description

This is an appeal from a judgment in an action in which Industrial Investment Corporation sought enforcement of loan guarantees made by Rocca. Judgment was issued in favor of Rocca and against enforcement of the guarantees. We affirm in part, reverse in part, and remand for further proceedings. On June 1, 1965, plaintiff-appellant Industrial Investment Corporation (IIC), as a result of a written agreement, loaned $33,000 to Western Vegetable & Cooling Co. Western Vegetable is now a defunct corporation and not a party to this action. The principal of the loan was due on June 1, 1970. Interest on the loan was due every three months throughout the term. Defendant-respondent Curtis Rocca executed a personal guarantee of the loan. Rocca, a resident of California, was a shareholder and director of Western Vegetable. Jun Matsumoto, a resident of Idaho, was a shareholder, director and president of Western Vegetable until his death in October 1968. Matsumoto also executed a personal guarantee of the $33,000 loan. The Matsumoto estate is not a party to this action.

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