North Carolina National Bank v. Corbett

The sole question discussed in appellant’s brief and on the oral argument is this: Does the failure to insert in the guaranty a limitation on the guarantor’s liability render the instrument ■void? In this instance the borrower was the husband of the guarantor. He was in the business of building houses. From time to time he needed advancements from his bank. Mr. and Mrs. Corbett held some, if not all, of their real estate as tenants by the entireties. Such real estate may not be held liable for the individual debts of either husband or wife. However, it is liable for the obligations of both.…