CARLEY, Judge.
On November 22, 1977, Nature Island, Inc., instituted Chapter XI bankruptcy proceedings in federal court. Thereafter, on December 5, 1977, Hickok and Oliver executed a guaranty contract in which they agreed to be guarantors of Nature Island's past due indebtedness to Starka. The guaranty contract recited as consideration "... the sum of One Dollar ($1.00) as well as for the purpose of seeking to induce Starka to extend the credit to Nature Island, Inc...
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