Southern Bank & Trust Co. v. Harley

Bell, Judge:

Southern Bank & Trust Company sued Ronald Harley, Gary Beaver, and Donald R. Knauss on continuing guaranty agreements signed by them to guarantee repayment of a loan to 46 New Orleans Investment Corporation. The circuit court denied Southern recovery of a deficiency of $79,221.77 and entered judgment for $12,583.19. Southern appeals. We reverse and remand for entry of judgment for the full amount of the deficiency plus interest.

On September 26, 1983, the three Guarantors — Harley, Beaver, and Knauss — signed continuing guaranty agreements to induce Southern to extend credit to 46…