McGlaun v. Southwest Georgia Production Credit Ass'n

Gregory, Justice.

Larry McGlaun, Nola McGlaun and the estate of Stewart Mc-Glaun are owners of a tract of farmland in Webster County which they operate as McGlaun Farms, Inc. (McGlaun Farms). On January 10, 1978, McGlaun Farms borrowed $188,000 from appellee Southwest Georgia Production Credit Association (PCA) for operating expenses, and executed a promissory note to the PCA in that amount. On that same date Stewart McGlaun, Larry McGlaun and Nola McGlaun executed a continuing guaranty agreement personally guaranteeing the repayment of this corporate indebtedness and “all renewals and…