Broward Bank v. Southeastern X-Ray Corp.

HERSEY, Judge.

The Bank appeals from an adverse final judgment in favor of the guarantor of a corporate promissory note.

On November 5, 1979, Southeastern X-Ray Corp., by its President, Harold Gray-son, executed a promissory note in the amount of $50,000 to Broward Bank. The loan was unsecured, but Grayson (among others) executed a guarantee of the loan on the same date. Renewal notes dated January 4,1980, April 3,1980, and September 2, 1980, were subsequently executed by Southeastern X-Ray. The renewal notes extended the time for payment of the original obligation, but no additional funds were…