Goodhue County National Bank v. Larson

Taylor, C.

Defendant and 29 other members of the Goodhue County Co-operative Company signed a guaranty to the Goodhue County National Bank dated January 28, 1916. This guaranty was construed in Goodhue County Nat. Bank v. Fleming, 168 Minn. 50, 209 N. W. 533, and its terms are there set forth. It is sufficient for present purposes to say that after reciting that the company would need to borrow money frequently and could obtain the necessary loans from the bank, the obligors bound themselves jointly and severally to pay each of the loans so made, and agreed that the guaranty should be binding…