Legal Opinion
Clay v. Presidential Financial Corp.
Court of Appeals of Georgia
Decided June 24, 1985No. 70170PublishedCited by 3 opinions
1Opinion of the Court
Beasley, Judge.
Defendant Clay agreed to guarantee payment of a debt owed by Employee Trucking, Inc. (ET) to plaintiff Presidential Financial Corp. (Presidential). ET failed to repay the debt, and Presidential accelerated the entire indebtedness pursuant to the guaranty agreement, filing the present action to recover the principal balance owed by ET plus attorney fees.
A default judgment was awarded to Presidential for the amount prayed on November 18,1983, and thereafter Presidential disposed of certain property of ET’s on which it held a perfected security interest.
On May 9, 1984 the judgment…
2Cases cited8 opinions
- Vickers v. Chrysler Credit Corp.Court of Appeals of Georgia · 1981
- Granite Equipment Leasing Corporation v. Marine Development CorporationCourt of Appeals of Georgia · 1976
- Gurwitch v. Luxurest Furniture Manufacturing Co.Supreme Court of Georgia · 1975
- Hubbard v. FARMERS BANK, UNION POINT, GEORGIACourt of Appeals of Georgia · 1980
- Graybar Electric Co. v. OppCourt of Appeals of Georgia · 1976
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3Cited by3 opinions
- Branan v. Equico Lessors, Inc.Supreme Court of Georgia · 1986
- Branan v. Equico Lessors, Inc.Court of Appeals of Georgia · 1986
- Coastal Credit, LLC v. Renee HowardCourt of Appeals of Georgia · 2020