United States v. First City Capital Corp.

WISDOM, Circuit Judge:

In this ease, the plaintiff/appellee the Small Business Administration (“SBA”), as receiver, sought to enforce a guarantee agreement against the defendant/appellant Brent J. Barron almost ten years after the maturity date of the underlying debt. The district court granted summary judgment in favor of the SBA. The court found that language in the guarantee agreement made a demand for payment a condition precedent to suit on the guarantee agreement, and that, therefore, the applicable statute of limitations did not begin to run until a demand was made. Because we find that…