Hornsby v. First National Bank

Smith, Judge.

Appellants assert that the trial court erred in granting appellee bank’s motion for summary judgment on its claim for $36,128.23 (plus interest and expenses of litigation) allegedly due under a guaranty agreement and on appellants’ counterclaim. We affirm.

Appellants formed two corporations, Harbor Village, Inc. and Hugo, Inc. The corporations were formed for the purpose of constructing motor inns. Harbor Village was to construct a Ramada Inn. Hugo was to construct a Days Inn. Appellee provided part of the financing for the Ramada Inn.

In September, 1973, appellants received a…