Skeen v. Valley Bank of Nevada

OPINION

By the Court,

Batjer, J.:

On September 8, 1971, the appellant guaranteed to the respondent bank a promissory note of $400,000.00 made by Reno Race Park, Inc. The note, which became due on December 8, 1971, carried an interest rate of nine percent (9%) and provided for reasonable attorneys’ fees in the event of default or suit thereon. Default occurred, with neither interest nor principal having been paid.

On January 4, 1972, the respondent filed a complaint against the appellant to recover on the promissory note that had been guaranteed by him. The appellant’s answer was filed on January…