Stephens v. First Bank and Trust of Richardson

OPINION

McDONALD, Chief Justice.

This is an appeal by appellant (defendant) Stephens from summary judgment against him for $150,000. on his guaranty on a note.

Plaintiff Bank sued National Education Systems Corporation for $150,000. on a note payable by defendant Systems to plaintiff, January 2,1975; and additionally sued Dan A. Phillips on “a guaranty agreement, guaranteeing payment of the original note and any extension or renewal thereof”, and defendant Stephens on a like guaranty. Systems and Phillips filed no answer.

Defendant Stephens answered that on October 7, 1973 he accompanied…