First Union National Bank v. Brown

GEER, Judge.

This appeal arises out of a loan by First Union National Bank (“First Union”) to defendant Stephen Paul Brown in the amount of $250,000. In his capacity as President of Global Support Services, Inc. (“Global”), Brown purported to sign a guaranty of this personal loan by Global. When Brown defaulted on the loan, First Union sued Global to enforce the guaranty. Global, contending that Brown lacked authority to sign the guaranty, filed counterclaims against First Union for breach of the covenant of good faith and fair dealing, nondisclosure, and violation of N.C. Gen. Stat. § 75-1.1…