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UPSHAW v. FIRST STATE BANK

35079.

244 Ga. 433 (1979)

260 S.E.2d 483

UPSHAW et al. v. FIRST STATE BANK.

Supreme Court of Georgia.

Decided October 11, 1979.

Attorney(s) appearing for the Case

Richard M. Cowart, for appellants.

Blackburn, Bright & Dodd, Oris D. Blackburn, Jr., for appellee.

HALL, Justice.

Appellants Lamar and Carolyn Upshaw signed on September 18, 1975, a "guaranty of payment" for a $14,400 loan from First State Bank to James Chaney. The guaranty agreement applied solely to the $14,400 loan and renewals of that loan, and the Upshaws' liability was limited to $4,000. The Upshaws also gave the bank a loan deed to property as security for the guaranty of payment. After the initial loan, the bank...

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