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WARD v. FLEX-O-TUBE CO.

No. 11381.

194 F.2d 500 (1952)

WARD et al. v. FLEX-O-TUBE CO.

United States Court of Appeals Sixth Circuit.

February 6, 1952.

Attorney(s) appearing for the Case

J. Thomas Smith and Pell Hollingshead, Detroit, Mich. (Smith & Huffaker, Detroit, Mich., on the brief; Carroll C. Grigsby, Detroit, Mich., of counsel), for appellants.

Fredric H. Stafford, Chicago, Ill. (Beaumont, Smith & Harris, Alfred E. Lindbloom, Detroit, Mich., Pam, Hurd & Reichmann, Fredric H. Stafford, Chicago, Ill., on the brief), for appellee.

Before MARTIN, McALLISTER and MILLER, Circuit Judges.

MILLER, Circuit Judge.

On September 15, 1945, the appellants who were the owners of all the outstanding capital stock of the Flex-O-Tube Company, a Delaware corporation, sold said stock to the appellee, the Flex-O-Tube Company, an Illinois corporation, formerly known as the Tetrarch Corporation, and, as a part of said transaction, entered into a written contract of guaranty with the appellee, by which the appellants guaranteed that the net worth of the assets of the...

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