MEMORANDUM AND ORDER
McLAUGHLIN, District Judge.
This is an action by the United States Small Business Administration ("SBA") to recover on a loan guaranty executed by defendants. Plaintiff has moved for summary judgment. Fed.R.Civ.P. 56. For the reasons stated below, the motion is granted.
Facts
The following facts are not in dispute. On May 11, 1979 Peconic Bay Industries, Inc. ("Peconic Bay"), acting through its president, defendant...
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