Federal Deposit Insurance Corporation, Plaintiff-Counter v. Roy William Bledsoe, Defendant-Counter Claimant-Appellee

GOLDBERG, Circuit Judge:

The Federal Deposit Insurance Corporation (“FDIC”) appeals the district court’s grant of summary judgment in favor of Roy William Bledsoe (“Bledsoe”). The lower court held that the FDIC’s action to recover payment on a promissory note guaranteed by Bledsoe was barred by the statute of limitations. We reverse.

The Nomadic Note

On May 27, 1983, Galleon Builders, Inc. (“Galleon”) executed a promissory note in the principal amount of $392,040.00, payable to State Savings & Loan Association of Lubbock (“State Savings”). On the same date, Bledsoe signed an unconditional…