Pacific States Savings & Loan Co. v. Stowell

WILSON, J., pro tem.

This appeal is from a judgment in favor of plaintiff upon a guaranty executed by defendant. Plaintiff’s assignor, Fidelity Savings and Loan Association, made a loan to a corporation, taking a note therefor secured by a trust deed upon real property. Defendant was president of the corporation borrowing the money. The Fidelity company refused to make the loan unless defendant would guarantee payment thereof, which defendant, through an agent, agreed to do. The guaranty was not signed until after the execution of the note and the passing of the money from the lender to the…