American Bank & Trust Co. in Monroe v. Cambre

NORRIS, Judge.

This is a suit on a promissory note and continuing guaranty agreement. The bank moved for and was granted a summary judgment. The guarantors, Mr. and Mrs. Davis, have appealed. For the reasons expressed, we affirm.

American Bank loaned $69,528.39 to A-l Sheet Metal Inc. in 1984. The Davises and the Cambres signed continuing guaranty agreements. The note provided for a variable “Prime Plus 2” interest rate adjusted monthly and for 20% attorney fees. On January 14, 1985, Mr. and Mrs. Davis sold their corporate interest back to the corporation. Mr. Cambre, the remaining shareholder,…