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NATIONAL BANK & TRUST CO. v. BECKER

Gen. No. 48,709.

38 Ill. App.2d 307 (1962)

187 N.E.2d 355

The National Bank and Trust Company of South Bend, a Corporation, Plaintiff-Appellee, v. Benjamin M. Becker, Barney Cushman, Milton Perlson, Norman Weinstein, and Harry E. Williams, Defendants-Appellants.

Appellate Court of Illinois — First District, Second Division.

Rehearing denied and opinion modified November 20, 1962.

Attorney(s) appearing for the Case

Crowley, Sprecher, Barrett & Karaba, of Chicago (Robert A. Sprecher and David M. Becker, of counsel), for Benjamin M. Becker, Barney Cushman, Milton Perlson and Harry E. Williams, appellants; Samuel Morgan, of Chicago, for Norman Weinstein, appellant.

John W. Dorgan and Harold T. Berc, of Chicago (Harold T. Berc, of counsel), for appellee.

MR. JUSTICE BURKE delivered the opinion of the court:

Plaintiff's complaint sought to recover upon five instruments of guaranty separately executed and delivered by each defendant on different dates, which unconditionally guaranteed to pay all existing and future indebtedness of Bar-Lin Steel Corporation, including all renewals and extensions thereof. The principal sum of $95,000 had been loaned to the corporation of which the defendants were shareholders. Upon consideration...

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