Plaintiffs seek to recover moneys from the defendants based on a promissory note signed by the corporate defendant Spray Tuck, Inc., and a guarantee signed by the individual defendant Gerald Sprayregen. The note and guarantee were issued in conjunction with the sale of the assets of Tuck-It-Away, Inc., a subsidiary of plaintiff Technical Tape, Inc., to defendant Spray Tuck, Inc., a corporation controlled by Sprayregen.
The promissory note, dated January 22, 1982,...
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