Reconstruction Finance Corp. v. Bairstow

KERNER, Circuit Judge.

The sole question in this case is whether the complaint stated a cause of action.

The facts: On January 20,1927, defendant’s lessees, Victor C. and Charlotte Carlson, executed and delivered their bonds, and to secure payment thereof, they conveyed to the Chicago Trust Company, as trustee, their interest in said leasehold estate. January 5, 1931, the defendant, for a valuable consideration, executed and delivered to the Chicago Trust Company, as trustee, his written guaranty, guaranteeing the payment of the then remaining outstanding bonds. After the execution of the…