Plaintiff, a copartnership engaged in commercial financing, granted a loan of $6,500 to defendant Ste-Con Corporation (Ste-Con) evidenced by its corporate note dated September 28, 1976. The loan was repayable in three years in equal monthly installments, including the interest at 18% per annum. To induce and collaterally secure the loan, Ste-Con's sole officers and directors, Mr. and Mrs. Blum, executed their personal guarantee for the indebtedness. Further, as collateral...
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