Vaughn v. DAP Financial Services, Inc.

OPINION

NUCHIA, Justice;

DAP Financial Services, Inc. (DAP) sued Joe T. Vaughn as the guarantor of a $122,500 promissory note executed by Gier-hart/Vaughn Construction Company. The trial court held Vaughn personally liable to DAP for the principal amount of $122,500 with interest, costs, and attorney’s fees. We affirm the judgment.

BACKGROUND

On July 25, 1984, Vaughn and Clell Gier-hart, vice-president and president respectively of Gierhart/Vaughn Construction Company, signed an open continuing guaranty (“the 1984 guaranty”) individually agreeing to repay all future loans made by Texas American…