CATES v. WOODY

No. 12623.

557 S.W.2d 857 (1977)

C. Grady CATES et al., Appellants, v. Don WOODY et al., Appellees.

Court of Civil Appeals of Texas, Austin.

Rehearing Denied November 30, 1977.


Attorney(s) appearing for the Case

Steven G. Condos, Dallas, for appellants.

Phil Mockford, Austin, for appellees.


O'QUINN, Justice.

All parties in this action, as shareholders in Orleans Harbour, Inc., a Texas corporation, entered into written guaranty of the corporation's obligations to the Capital National Bank of Austin.

Two of the shareholders, who pursuant to the guaranty agreement paid the corporation's obligations, brought this suit in Travis County to collect from the remaining shareholders the proportionate sums thereby paid the bank in behalf of the defendant...

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