SMITH v. AMERICAN NAT. BANK AND TRUST CO.

No. 91-6505.

982 F.2d 936 (1992)

E.B. SMITH, Jr., Plaintiff-Appellant, v. AMERICAN NATIONAL BANK AND TRUST COMPANY, Defendant-Appellee.

United States Court of Appeals, Sixth Circuit.

Decided December 17, 1992.


Attorney(s) appearing for the Case

Michael A. Meyer (argued and briefed), Sidwell & Barrett, Franklin, TN, for plaintiff-appellant.

Roger W. Dickson, Marcia J. Meredith, James R. Buckner, Harry S. Mattice (argued and briefed), Miller & Martin, Chattanooga, TN, for defendant-appellee.

Before: KEITH, NELSON, and RYAN, Circuit Judges.


DAVID A. NELSON, Circuit Judge.

The plaintiff in this case signed an agreement with the owner of an automobile dealership to guarantee a loan that the dealership proposed taking out in order to cover overdrafts at the defendant bank. In exchange for the guarantee, the plaintiff was promised half the dealership's corporate stock and a half interest in certain real estate.

The bank made a 90-day loan to the dealership shortly after the agreement was signed,...

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