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HOUSATONIC BANK v. FLEMING

234 N.J. Super. 79 (1989)

560 A.2d 97

HOUSATONIC BANK AND TRUST COMPANY, PLAINTIFF-APPELLANT, v. JOSEPH W. FLEMING, DEFENDANT-RESPONDENT.

Superior Court of New Jersey, Appellate Division.

Decided June 22, 1989.

Attorney(s) appearing for the Case

Richard C. McDonnell argued the cause for the appellant (McDonnell & Whitaker, attorneys; Richard C. McDonnell, of counsel and on the brief).

George J. Cotz argued the cause for the respondent (Weber, Muth & Weber, attorneys; George J. Cotz, on the brief).

Before Judges MICHELS, LONG and KEEFE.

The opinion of the court was delivered by KEEFE, J.S.C. (temporarily assigned).

On April 23, 1982, the defendant Joseph W. Fleming executed an agreement which made him a guarantor for loans made by plaintiff Housatonic Bank and Trust Company to the Glasslight Company, Inc., William C. Reppenhagen and Jacqueline Reppenhagen. The instrument provided that defendant's guarantee was not to exceed $50,000.00 "at any one time." The agreement further provided in part:

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