In Valinda Builders, Inc. v. Bissner (1964) 230 Cal.App.2d 106, the defendants guarantied a loan taken out by their corporation, which was organized for the sole purpose of taking on the loan. The corporation had a paid-in capital of only $200, and the defendants and their wives were its only stockholders, directors, and officers. (Ibid.) The court concluded there was no evidence the corporation was anything other than "an instrumentality used by the individuals or that defendants were ever removed from their status and obligations of purchasers." (Id. at p. 110.) Thus, "the alleged guaranty of defendants was no more than a promise to pay their own debt ... ." (Ibid.)