ADAMS, J.
On November 15, 1956, plaintiff loaned the North American Development Company $200,000 upon a promissory note executed for that company by its president, Jack I. Winshall. On the same date Winshall executed a guaranty to the plaintiff, paragraph 1 of which reads as follows:
"1. In consideration of the loan made upon such note, the undersigned hereby unconditionally guarantees to the Jerry McCarthy Foundation, its successors and assigns, and...
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