Strickland v. Foundation Life Insurance

Hall, Presiding Judge.

Defendants Strickland and Schultz owned at least the majority of shares of Piedmont-Tenth Finance Company, which on July 19, 1968, executed a senior subordinated note payable to Foundation Life Insurance Co. in exchange for a $20,000 loan. Contemporaneously therewith, Strickland and Schultz executed a personal guaranty of the loan. The note bears the heading "Atlanta, Ga.” The guaranty is headed "State of Georgia County of Fulton.” Some time later, Schultz moved to Florida. Following default on the note and failure by the guarantors to pay, Foundation brought suit…