Kelliher v. Herman

Appellants, with others, were stockholders in Colossal Enterprises, Inc., a Wyoming corporation (hereinafter referred to as "Colossal"). Appellants and Colossal, with others, were stockholders in A &; I Equipment, Inc., a Wyoming corporation (hereinafter referred to as "A &; I"). A &; I executed a promissory note to appellee in the principal amount of $260,590.00. Colossal and appellants, with others, personally guaranteed the payment of the note "as is equal to the percentage of stock ownership held by such individual guarantor in" A &; I. A &; I became insolvent; and all guarantors (including appellants) except Colossal (which also became insolvent) settled with appellee under their individual guarantees. Appellee instituted this action to obtain payment from appellants, and others, for Colossals share of the guaranty. After a jury trial, judgment was entered in favor of appellee. This appeal is from that judgment.