SINCLAIR v. HOLT

No. 6600.

493 P.2d 1316 (1972)

Phillip SINCLAIR, Appellant, v. Roy E. HOLT, Respondent.

Supreme Court of Nevada.

February 23, 1972.


Attorney(s) appearing for the Case

Lee & Beasey, Las Vegas, for appellant.

Pomeranz, Cochrane, Lehman & Nelson, Las Vegas, for respondent.


OPINION

MOWBRAY, Justice:

On September 21, 1962, the Vegas Development Corporation of Nevada, through its officers, signed a $35,400 corporate installment note payable to the order of the First National Bank of Nevada. The note was secured by a chattel mortgage covering apartment furniture owned by the corporation.

On September 24, 1963, Respondent Roy E. Holt became guarantor of the note. Later the corporation encountered financial difficulties...

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