Security Savings Bank v. Peddicord

On April 14, 1920 a partnership known as Shearer Brothers to obtain credit with the plaintiff, The Security Savings Bank of Perry, Iowa,' procured a written guaranty signed by the defendant-appellant Peddicord and the defendant-appellee Eveland. This guaranty was for a sum not to exceed, $5,000, and upon the execution and delivery of the instrument to the bank Shearer Brothers obtained credit in that sum. The guaranty ¿xtended up to and including October 1, 1921. In November 1920 the president of the bank notified Shearer Brothers that it would be necessary to change the guaranty to bankable…