Carrier Brokers, Inc. v. Spanish Trail

OPINION

BILLINGS, Judge: .

Spanish Trail appeals from the judgment of the trial court releasing C.A. Bailey (“Bailey”) from his personal guaranty of an agreement between Spanish Trail and Carrier Brokers, Inc. (“Carrier”). We affirm.

Spanish Trail and Carrier entered into an agreement whereby Spanish Trail, a food broker who purchases and sells distressed and surplus food items, loaned Carrier $200,000 for 40 days so that Carrier could purchase 60,000 cases of Coca-Cola. Repayment was to be $200,000 plus $10,000, or 20% of the profits received from the sale of the Coca-Cola, whichever was…