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WHITE v. WINCHESTER LAND DEVELOPMENT CORP.

584 S.W.2d 56 (1979)

C. Thomas WHITE and Adelyn S. White, Individually and d/b/a The White House, Inc., and Julianna M. White's Administrator, Appellants, v. WINCHESTER LAND DEVELOPMENT CORPORATION, the Winchester Bank, and The White House, Inc., Appellees.

Court of Appeals of Kentucky.

As Modified June 29, 1979.

Attorney(s) appearing for the Case

Janet R. White, White, McCann & Stewart, Winchester, for appellant, Julianna M. White's Administrator.

John Paul Moore, Rick J. Thomas, Winchester, for C. Thomas White and Adelyn S. White, Individually and d/b/a The White House.

Henry L. Rosenthal, Jr., Winchester, for appellee, The Winchester Bank.

Edsel T. Jones, Winchester, for appellee, Winchester Land Development Corp.

Before MARTIN, C.J., and REYNOLDS and WINTERSHEIMER, JJ.

MARTIN, Chief Judge.

Charles T. and Adelyn S. White appeal from a decision of the circuit court holding that certain stock pledged as security on appellants' personal loan could be sold by the appellee bank to discharge the indebtedness on subsequent loans executed by appellants in the name of their corporation. The rather unusual facts of this appeal present several significant questions as to the extent of individual liability on corporate loans.

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