Du Quoin State Bank v. Daulby

On April 14, 1979, appellants William and Catherine Daulby entered into a contract of guaranty with appellee Du Quoin State Bank. This instrument, denominated as a “continuing, absolute and unconditional guaranty,” was given in consideration of any credits or advances made or to be made to Alfred and Wanda Atwood and the Egyptian Music Company, and was limited to $17,463.45. The contract provided that “liability hereunder shall in no wise be affected or impaired by *** any sale *** or other disposition of any of said indebtedness.”

The bank eventually loaned a total of $97,740.68 to the…