Daly v. Del E. Webb Corp.

OPINION

By the Court, Thompson, J.:

This appeal is from summary judgment for Del E. Webb Corporation in an action commenced by that corporation to recover upon an unconditional written guaranty for the payment of a promissory note.

On March 4, 1977, Aladdin Hotel Corporation executed a promissory note in favor of Del E. Webb Corporation in the amount of $1,000,000 to secure an extension of time to remedy a default on one of two prior notes.

Daly, George and Webbe, who were officers, directors and shareholders of Aladdin, concurrently gave their personal guaranty of the note. The note and guaranty…