United American Bank in Knoxville v. Keck (In Re Keck)

MEMORANDUM

CLIVE W. BARE, Bankruptcy Judge.

The question before this court is whether debts owing to the plaintiff should be excepted from discharge under the provisions of § 17a(2) of the Bankruptcy Act. 1 Two transactions are involved — a $5000 loan made by the plaintiff to the defendant on June 9, 1978, and a $25,000 loan made by the plaintiff to four individuals on July 31, 1978, on which obligation the defendant was a guarantor and not a principal.

I

The facts, as stipulated by the parties, reflect that on June 9, 1978, the defendant executed and delivered to the plaintiff a promissory note…