Jerry McCarthy Foundation v. Winshall

On November 15,1956, plaintiff loaned the North American Development Company $200,-000 upon a promissory note executed for that company by its president, Jack I. Winshall. On the same date Winshall executed a guaranty to the plaintiff, paragraph 1 of which reads as follows:

“1. In consideration of the loan made upon such note, the undersigned hereby unconditionally guarantees to the Jerry McCarthy Foundation, its successors and assigns, and to every subsequent holder of such note, irrespective of the genuineness, validity, regularity, or enforceability thereof, or of the obligation evidenced…