POPE, Chief Judge.
Plaintiff Carlton Manufacturing, Inc. sold a division of the corporation engaged in furniture manufacturing, called Madison House, to Madison House Acquisition, Inc. ("Madison House"). In exchange, plaintiff received a promissory note in the amount of $290,000 and a security interest in the inventory of Madison House. As part of the transaction, defendant Steven K. Bauer, president of Madison House Acquisition, Inc., signed a personal guaranty for...
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