UNITED STATES v. TERREY

No. 76-2676.

554 F.2d 685 (1977)

UNITED STATES of America, Plaintiff-Appellee, v. Thomas N. TERREY, Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

June 22, 1977.


Attorney(s) appearing for the Case

Edward R. Finck, Jr., Albert M. McNeel, Jr., San Antonio, Tex., for defendant-appellant.

John E. Clark, U. S. Atty., Henry Valdespino, Asst. U. S. Atty., San Antonio, Tex., for plaintiff-appellee.

Before WISDOM, GEE and FAY, Circuit Judges.


WISDOM, Circuit Judge:

This appeal challenges a recovery by the United States on a guaranty agreement executed by the defendant-appellant, Terrey, to secure a Small Business Administration loan. When the original debtor, SESO Corporation, defaulted on the loan, it turned over its assets to the SBA. The Administration sold the assets at a public auction and sued Terrey for the resulting deficiency. The district court directed a verdict for the SBA, overruling Terrey...

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