Hackney v. First Alabama Bank

T. Morris Hackney appeals from a summary judgment in favor of First Alabama Bank ("FAB") on FAB's claim against Hackney for breach of a continuing guaranty agreement guaranteeing payment of a note executed by Banton, Inc., a corporation purchased by Hackney. Because we find that Hackney's affirmative defenses of fraud, lack of consideration, and mistake lack supporting evidence, we affirm the trial court's judgment.

Prior to Hackney's purchasing Banton, Inc., Banton Industries, Inc., a subsidiary of Banton, Inc., executed a promissory note in the amount of $500,000 in favor of FAB. Banton,…