McCaleb v. National Bank of Commerce of Pine Bluff

Melvin Mayfield, Judge.

This is an appeal from a summary judgment awarded appellee, National Bank of Commerce of Pine Bluff (NBC), on a guaranty agreement. From the matters included in the record on appeal, it is undisputed that appellants were stockholders in McCauley Aviation, Inc., an Arkansas corporation with its principal place of business in Pine Bluff. In order to obtain a $180,000.00 line of credit with NBC, the appellants, on February 22, 1982, executed a'guaranty agreement which provided in pertinent part as follows:

For value received and in consideration of advances made or to be…