First National Bank v. Damil, Inc.

Deen, Presiding Judge.

In February of 1978 appellees Chester, Lucas, and Thacker executed a promissory note and security agreement as officers of Damil, Inc., a corporation organized for the purpose of operating a steak house franchise in Dalton, Georgia. Under the terms of the note, which reflected a loan to Damil by appellant First National Bank of Dalton (the bank), Damil was to pay each month the sum of $7,862.50 representing principal and interest at 10%, beginning in August 1978. The three individual appellees simultaneously executed a joint and several guaranty of payment of all DamiPs…