SCHREIBER v. ARMSTRONG

No. 6939.

374 P.2d 297 (1962)

70 N.M. 419

Frank L. SCHREIBER, Plaintiff, Appellant and Cross-Appellee, v. Rogers N. ARMSTRONG and Kathryn Armstrong, Defendants, Appellees and Cross-Appellants, v. ARMSTRONG-SCHREIBER AGENCY, INC., a corporation, Cross-Defendant, Appellant and Cross-Appellee.

Supreme Court of New Mexico.

August 31, 1962.


Attorney(s) appearing for the Case

Bigbee & Stephenson, Charles D. Olmsted, Santa Fe, for appellant and cross-appellee.

Verity, Burr & Cooley, Farmington, for appellees and cross-appellants and defendants.


NOBLE, Justice.

Plaintiff brought suit against defendants on three promissory notes. Defendants admitted liability on the notes but counterclaimed, seeking an offset for damages caused by plaintiff's application of a payment of $1,000.00 made to him as secretary-treasurer of Armstrong-Schreiber Agency, Inc., to defendants' indebtedness to the corporation instead of to the purchase of corporate stock as directed. The corporation was joined as cross-defendant and the...

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