Tri-South Mortgage Investors v. Fountain

Rhodes, Justice:

This is an action on a guaranty agreement obligating the guarantor to payment of a promissory note secured by a real estate mortgage. Suit was instituted on the guaranty agreement by the appellant, Tri-South Mortgage Investors, against the respondent,' Robert Fountain, a guarantor. A motion by Fountain to require Tri-South to join the principal obligor as a party defendant and to amend its complaint so as to seek foreclosure of the mortgage was granted by the lower court. On this appeal by Tri-South, we reverse.

Tri-South is a business trust organized under the laws of…