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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