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AM. IND. CORP. v. FIRST & MERCHANTS NAT. BANK

Record No. 740615.

219 S.E.2d 673 (1975)

AMERICAN INDUSTRIAL CORPORATION v. FIRST & MERCHANTS NATIONAL BANK.

Supreme Court of Virginia.

December 1, 1975.

Attorney(s) appearing for the Case

Alfred J. Owings, Richmond (Greer P. Jackson, Jr., Spinella, Spinella & Owings, Richmond, on brief), for plaintiff in error.

William R. Cogar, Richmond (F. Claiborne Johnston, Jr., Mays, Valentine, Davenport & Moore, Richmond, on brief), for defendant in error.

Before CARRICO, HARRISON, COCHRAN and POFF, JJ.

PER CURIAM.

The sole question in this case is whether an undertaking by First & Merchants National Bank (the Bank) constituted a guaranty, binding the Bank to pay American Industrial Corporation (American) the amount of a debt owed American by Industrial Automation, Inc. (Industrial). The trial court held that the undertaking was not a guaranty, and we now review that holding.

American brought this action against Industrial and the Bank to recover the...

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