Samuel Cooling & Security Trust Co. v. Springer

Rodney, J.,

delivering the opinion of the Court:

The first step in ascertaining the liability of a guarantor is to determine the nature and meaning of the contract under which such liability is asserted. In the present case the first question to be determined is, we think, whether the guaranty, admittedly present, be limited or continuing in character, or if these terms are not apt and appropriate, then to determine the time that such guaranty was by agreement of the parties to remain and exist.

Courts have differed as to whether, on the one hand, the contract should be strictly construed in…