Pee Dee State Bank v. National Fiber Corp.

Bell, Judge:

This is an action on a note and guaranty agreement. The circuit court entered judgment against the guarantor, James R. Prosser, for the amount due on the note. Prosser appeals. We affirm.

The material facts are largely undisputed. In August 1981, Pee Dee State Bank loaned National Fiber Corporation $85,000. As security for the loan, the Bank required Earl M. Walls and Prosser, who were officers of the corporation, to execute guaranty agreements personally guaranteeing payment of the note. The loan was additionally secured by mortgages on real estate owned by Prosser and Walls.

In…