Mathis v. U.S.I. Properties, Inc.

OPINION

FRANKS, Judge.

The Trial Judge refused to enforce personal guarantees made by defendants Houser, Threadgill and Rahmanian to plaintiff, and plaintiff has appealed.

The Trial Court’s summary of the operative facts is succinct, and we adopt:

A Tennessee corporation was formed on September 4, 1987 by the name of U.S.I. Properties, Inc., (U.S.I.). Gerald L.. Houser (House), John 0. Threadgill (Thread-gill), Mehdi Rahmanian (Rahmanian), and Ward W. Mathis (Mathis) were equal shareholders.

The Corporation was formed to develop condominiums.

Plaintiff Mathis was to reside on the premises, make…