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GIOVANELLI v. FIRST FED. SAV. AND LOAN ASS'N

No. 1 CA-CIV 3276.

120 Ariz. 577 (1978)

587 P.2d 763

G.S. GIOVANELLI and J.M. Giovanelli, husband and wife, Don C. Chandler and Barbara R. Chandler, husband and wife, E.M. Arndt and Corrine H. Arndt, husband and wife, Appellants, v. FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF PHOENIX, a corporation, Appellee.

Court of Appeals of Arizona, Division 1, Department A.

Rehearing Denied November 3, 1978.

Review Denied November 21, 1978.

Attorney(s) appearing for the Case

Tanner, Jarvis, Owens & Hoyt, Ltd. by Melvin J. Owens/Wallace O. Tanner, Phoenix, for appellants.

Jennings, Strouss & Salmon by Anthony J. Palumbo, Phoenix, for appellee.

OPINION

DONOFRIO, Judge.

This appeal is brought from the granting of a motion for summary judgment in favor of First Federal Savings and Loan Association of Phoenix, appellee/plaintiff below, and against appellants/defendants below.

Briefly, the facts can be stated as follows:

On March 30, 1971 appellants, Chandler, Arndt and Giovanelli signed a "Continuing Guaranty"1 with appellee First Federal on

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