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FEDERAL DEPOSIT INS. CORP. v. FAGAN

Nos. 80-1050(L), 80-1051.

674 F.2d 302 (1982)

FEDERAL DEPOSIT INSURANCE CORPORATION, Appellee, v. Vermelle Roland FAGAN, Executrix and distributee of the Estate of Wylie H. Fagan, deceased; and Scott M. Waldron, Appellants. FEDERAL DEPOSIT INSURANCE CORPORATION, Appellee, v. Vermelle Roland FAGAN, Executrix and distributee of the Estate of Wylie H. Fagan, deceased; and, Scott M. Waldron, Appellants.

United States Court of Appeals, Fourth Circuit.

Decided March 25, 1982.

Attorney(s) appearing for the Case

Elizabeth Carpentier, Columbia, S. C. (Hamilton Osborne, Jr., Boyd, Knowlton, Tate & Finlay, Columbia, S. C., on brief), for appellants.

William A. Dallis, Charleston, S. C. (Robert G. Price, Kennedy & Price, Charleston, S. C., on brief), for appellee.

Before HAYNSWORTH, Senior Circuit Judge, and MURNAGHAN and CHAPMAN, Circuit Judges.

CHAPMAN, Circuit Judge:

Federal Deposit Insurance Corporation ("FDIC") commenced this action seeking recovery on a guaranty agreement executed by Wylie H. Fagan and Scott M. Waldron to American Bank and Trust ("AB&T") dated August 31, 1972. The district court found that as to Fagan the guaranty did not cover credit extended by AB&T after it was advised of Fagan's death. The court further found that Fagan's widow,...

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