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BORG-WARNER ACCEPTANCE CORP. v. JOHNSTON

No. 8926SC830.

389 S.E.2d 429 (1990)

97 N.C. App. 575

BORG-WARNER ACCEPTANCE CORPORATION, Plaintiff, v. Hugh W. JOHNSTON and wife, Audrey S. Johnston, Defendants.

Court of Appeals of North Carolina.

March 20, 1990.

Attorney(s) appearing for the Case

DeLaney and Sellers, P.A. by Timothy G. Sellers and Charles E. Lyons, Charlotte, for plaintiff-appellee.

Stott, Hollowell, Palmer & Windham by E. Gregory Stott and Grady B. Stott, Gastonia, for defendants-appellants.

LEWIS, Judge.

On 29 June 1983 and 28 December 1983, defendants signed guaranty agreements with the plaintiff under the terms of which they agreed to unconditionally guarantee the indebtedness of Royal Villa, Inc. to the plaintiff under two Equipment Lease Agreements between the plaintiff and Royal Villa, Inc. dated 29 June 1983 and 28 December 1983.

Royal Villa, Inc. was the owner of the real property upon which the Royal Villa Hotel was located and where...

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