Branch Banking & Trust Co. v. Carolina Crank & Core, Inc.

HEARN, C.J.:

In this civil action, Bruce Tipi appeals the circuit court’s grant of Branch Banking and Trust Company of South Carolina’s motion for summary judgment. As a result, Tipi was found to be personally liable on a $325,000 guaranty owed to the Bank. We affirm.1

FACTS

In December 1998, Michael McNelis, Kenneth Taylor, and Robert Thompson purchased an automotive crankshaft division of a company and incorporated as Carolina Crank & Core, Inc. McNelis, Taylor, and Thompson obtained a term loan from Branch Banking and Trust Company of South Carolina2 (“Bank”), to assist in the purchase. The…