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ITT INDUS. CREDIT CO. v. ALEX COOLEY'S BALLROOM, INC.

No. 82-8633.

726 F.2d 1559 (1984)

ITT INDUSTRIAL CREDIT COMPANY, Plaintiff-Appellant, v. ALEX COOLEY'S BALLROOM, INC., et al., Defendants-Appellees.

United States Court of Appeals, Eleventh Circuit.

March 16, 1984.

Attorney(s) appearing for the Case

Nolan B. Harmon, Atlanta, Ga., for plaintiff-appellant.

Stephanie Kearns, Atlanta, Ga., for S.A. & Frances Cooley.

Before CLARK and ANDERSON, Circuit Judges and DUMBAULD, District Judge.

DUMBAULD, District Judge:

Appellant (ITT) on February 15, 1979, made a loan to Stephen Alexander Cooley, an entertainment promoter, and two corporations operated by him. All three debtors have subsequently become bankrupt. The lender got a detailed financial statement and credit check on the debtors and on one David J. Harris, who as a matter of friendship became guarantor on the loan. He refused, however, to sign ITT's standard printed lengthy "boiler-plate" guaranty...

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