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FARMER v. PEOPLES AM. BANK

49313.

132 Ga. App. 751 (1974)

209 S.E.2d 80

FARMER v. PEOPLES AMERICAN BANK.

Court of Appeals of Georgia.

Decided September 5, 1974.

Rehearing Denied September 27, 1974.

Attorney(s) appearing for the Case

Thrasher, Costanzo & Stanford, R. Joseph Costanzo, Jr., for appellant.

Troutman, Sanders, Lockerman & Ashmore, Mack O. Butler, Ezra H. Cohen, William G. McDaniel, for appellees.

EVANS, Judge.

In 1970, Color World International, Inc. sought to borrow $178,000 from Peoples American Bank of Atlanta, which is now a part of First Georgia Bank. The borrower lacked sufficient security, and the bank required a number of borrower's stockholders to execute individual guarantees of payment in the amount of $10,000 each. James W. Farmer executed such agreement guaranteeing $10,000 on April 15, 1970. The loan to Color World was executed on April 17, 1970...

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