Burns v. Ferguson

BRIGHTMIRE, Presiding Judge.

The issue presented in this lawsuit against two alleged guarantors of a note is whether the guaranty instrument they executed was complete when they signed it or merely an offer which was never accepted by the guarantee? The trial court held that it was complete upon execution and the executor appeals. We reverse.

I

The guaranty in question came about as an incident to the construction funding of a million and a half dollar office building in Oklahoma City, Oklahoma. Plaintiff, Justice Mortgage Investors, a trust, made a $1,700,000 construction loan to Cavalier…