Newby v. Bank of Pinehurst

Quillian, Chief Judge.

This is an appeal from the grant of summary judgment to the plaintiff Bank of Pinehurst (Bank) in an action on four promissory notes. The defendant, Robert L. Newby, Jr., was the guarantor of the notes executed by his son, Robert L. Newby III, and at the time of their execution was majority stockholder and President of the plaintiff bank. He stated that the Bank was to advise his son when payments were to commence and two months passed after execution of the notes before his son was advised to start payments. Thereafter monthly payments were made — although they were…