National Acceptance Co. of America v. Wechsler

MEMORANDUM OPINION AND ORDER

ASPEN, District Judge:

This action arises out of a demand by plaintiff National Acceptance Company of America (“NAC”) for payment of the amount due on certain loans for which defendant James M. Wechsler was the guarantor. The loans were made to Detroit Harbor Terminals, Inc. (“Detroit Harbor”), pursuant to separate agreements between NAC and Detroit Harbor in September, 1974, and July, 1976. At the time each of these agreements was executed, Wechsler also signed individual guaranties whereby he promised to assume responsibility for Detroit Harbor’s indebtedness. On…