Seattle-First National Bank v. Pearson

This is an action by the Seattle-First National Bank (appellant) against defendants A. Linus Pearson and wife (respondents) upon a written guaranty agreement.

August 28, 1958, the bank loaned $5,000 to the Oravetz Charcoal Company, Inc. on its demand promissory note bearing 7 per cent interest. The same day, defendant A. Linus Pearson signed the written guaranty which, insofar as we need consider it, provides:

“In consideration of financial accommodations given or to be given to Oravetz Charcoal Company, Inc. (herein called the Customer) by Seattle-First National Bank (herein called the Bank),…