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FARMERS BANK, ETC. v. MICHAEL T. BROWN, ETC.

No. 8117SC971.

291 S.E.2d 317 (1982)

FARMERS BANK, PILOT MOUNTAIN, North Carolina v. MICHAEL T. BROWN DISTRIBUTORS, INC., (Formerly Ned Pell Distributors, Inc.); Brenda M. Brown, Executrix of the Estate of Michael Brown; Brenda M. Brown; Vida M. McCanless; Phillip H. Pell; and O. M. Needham, Jr.

Court of Appeals of North Carolina.

May 18, 1982.

Attorney(s) appearing for the Case

Otis M. Oliver, Mount Airy, and Finger, Park & Parker by Raymond A. Parker, II, Elkin, for plaintiff-appellee.

Badgett, Calaway, Phillips, Davis, Stephens, Peed & Brown by Herman L. Stephens, Winston-Salem, for the defendants-appellants.

ROBERT M. MARTIN, Judge.

The defendants first contend that the trial court erred in ruling that the contract between defendants Pell and Needham and plaintiff Bank did not include a condition precedent to the guaranty that the plaintiff must first obtain the valid signatures of all the other named defendants before the guaranty would be effective. We agree with plaintiff.

The trial court found as fact the following:

(2) Shortly before February 15...

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