First Security Bank of Idaho, N.A. v. Gaige

BAKES, Justice.

First Security Bank of Idaho (First Security) seeks to collect from a guarantor, A. John Gaige (Gaige), and his wife, Neta E. Gaige (Mrs. Gaige), the amount due on promissory notes executed by a corporate debtor, A.J. Gaige & Associates, Inc. (the company), a metal fabricating business. The district court resolved all issues by granting summary judgment in favor of First Security and by dismissing the Gaig-es’ counterclaim. We affirm.

I

In 1978, the company sought and obtained a $250,000 line of credit from First Security. The company’s inventory and accounts receivable were used…