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SOUTHERN BANK & TRUST CO. v. HARLEY

22874

295 S.C. 423 (1988)

368 S.E.2d 908

SOUTHERN BANK AND TRUST COMPANY, Respondent v. Ronald HARLEY, Gary Beaver, and Donald R. Knauss, Petitioners.

Supreme Court of South Carolina.

Decided May 23, 1988.

Attorney(s) appearing for the Case

Curtis L. Coltrane and James M. Herring, of Herring & Meyer, Hilton Head Island, for petitioner Donald R. Knauss.

George E. Mullen, of McKay & Mullen, P.A., Hilton Head Island, for petitioners Ronald Harley and Gary Beaver.

O.G. Calhoun, Jr., and Robert C. Wilson, of Haynsworth, Marion, McKay & Guerard, Greenville, for respondent.

Heard Dec. 10, 1987.

Decided May 23, 1988.

NESS, Chief Justice:

This is an action on a guaranty agreement. We granted certiorari to review the decision of the Court of Appeals reported at 292 S.C. 340, 356 S.E.2d 410 (Ct. App. 1987) and now affirm that decision as modified. We also decide that the commencement of bankruptcy proceedings by petitioners Beaver and Knauss does not automatically...

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