Waller v. Martin-Senour Co.

1. Where by contract a guarantor obligates himself to a person furnishing goods and merchandise from time to time to another, to pay therefor “to the extent of $5000,” and where by the terms of the contract of guaranty the person so furnishing the goods and merchandise could modify the credit terms without notice to the guarantor, the contract did not bind the opposite party thereto to extend credit to the extent of $5000, but only limited the guarantor’s liability to that extent. In a suit by the seller against the guarantor, to recover upon such a contract of guaranty, it was no defense…