Smith v. First National Bank of Atlanta

Carley, Judge.

Appellant-defendants executed a guaranty agreement which was under seal and which provided, in relevant part, that it had been executed in “consideration of the sum of FIVE DOLLARS ($5.00) and other valuable considerations. . . .” When appellee-plaintiff brought suit on the agreement, appellants answered and asserted, among their other defenses, “that they [had] received no consideration in exchange [there]for. . . .” After discovery, cross-motions for summary judgment were filed. The trial court denied appellants’ motion and granted summary judgment in favor of appellee.…