Resiventure, Inc. v. National Loan Investors, L.P.

Ruffin, Judge.

National Loan Investors, L.P. (“NLI”) sued Resiventure, Inc. (“Resiventure”), Gary Wallace and Rollin Rockett to collect on a promissory note. The trial court granted NLI’s motion for summary judgment, and Resiventure, Wallace and Rockett appeal. For reasons which follow, we reverse.

In July 1988, Resiventure borrowed $550,897 from Habersham Federal Savings Bank. Resiventure was required to satisfy the note by July 1989. According to the note, no payments were due until that time. Wallace and Rockett personally guaranteed payment of the note.

Less than a month before the note…