Branch Banking & Trust Co v. Price

PER CURIAM: *

Richard Price (“Price”) appeals the district court’s grant of summary judgment in favor of Branch Bank and Trust Company (“the Bank”) holding him liable under the parties’ Limited Guaranty Agreement (“LGA”) for the obligations of Orleans Furniture, Inc. (“OFI”). We AFFIRM.

I. FACTUAL BACKGROUND AND PROCEDURAL HISTORY

In April 2006, the Bank and OFI entered into a Factoring and Security Agreement (“FSA”). The FSA generally provided that the Bank would purchase and credit-insure certain receivables of OFI and pay OFI what it received upon payment of the accounts, less a discount. In…