Fagen's of North Carolina, Inc. v. Rocky River Real Estate Co.

Judge Wynn

dissenting.

I respectfully dissent because I disagree with the majority’s conclusion that the guaranty contract in the instant case binds Mr. Myers only if he “received a personal benefit from plaintiff’s extension of credit or was an officer of the corporation receiving the credit.” I find that the contract establishes an unconditional personal obligation on the part of Mr. Myers to guarantee repayment to plaintiff for credit extended to Rocky River Real Estate Co. (Rocky River). Contracts of guaranty and contracts of suretyship are two methods in which a party can become obligated…