First American Bank v. McCarty

By Judge Rosemarie Annunziata

This matter is before the Court on defendants’ motion to set aside a confessed judgment; defendants are husband and wife, Russell and Sharon McCarty. Defendant Russell McCarty was formerly the president and one of two shareholders of the McCarty Electric Company. During Mr. McCarty’s tenure as president, McCarty Electric executed several loan agreements with the plaintiff, First American Bank. Mr. McCarty and his wife signed a Continuing Guaranty dated April 29, 1987, guaranteeing all present and future debts of McCarty Electric to the plaintiff, First American…