CUTTER, J.
The plaintiffs and the defendants, all residents of Massachusetts, were stockholders, officers, and directors of Furniture & Toy Company, Inc. (Furniture), a Massachusetts corporation, which had made with Whitehall Mercantile Corporation (the factor), a New York corporation, an agreement (the agreement) dated June 19, 1956, to provide for securing certain loans. A written guaranty agreement (the guaranty), also dated June 19, 1956, was executed by each...
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