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UNITED STATES v. PROCTOR

No. 73-2756.

504 F.2d 954 (1974)

UNITED STATES of America, Plaintiff-Appellee, v. George H. PROCTOR et al., Defendants-Appellants.

United States Court of Appeals, Fifth Circuit.

November 21, 1974.

Attorney(s) appearing for the Case

Howard C. Oliver, Montgomery, Ala., Griffin Sikes, Andalusia, Ala., for Proctors.

Barry C. Leavell, Montgomery, Ala., for Beesley.

Albert W. Copeland, Montgomery, Ala., for defendants-appellants.

Ira DeMent, U. S. Atty., Calvin C. Pryor, Asst. U. S. Atty., Montgomery, Ala., for plaintiff-appellee.

Before GODBOLD, SIMPSON and INGRAHAM, Circuit Judges.

SIMPSON, Circuit Judge:

We review and affirm a district court order granting the motion of the United States for summary judgment in a suit brought by the government under a guaranty agreement. The undisputed facts as they appeared from the pleadings and affidavits before the trial court may be simply stated.

In January, 1968 Beesley Packing Co. Inc. (Debtor) obtained a loan of $75,000 from the Covington County Bank of Andalusia, Alabama (Bank). In exchange...

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