General Motors Acceptance Corp. v. Daniels

COLE, Judge.

We shall decide in this case whether a person who signs an installment sales contract for the sole purpose of lending his credit to the purchaser makes the contract of a surety or the contract of a guarantor.

A brief recitation of. the facts will place this issue in proper perspective. In June 1981, John Daniels agreed to purchase a used automobile from Lindsay Cadillac Company (Lindsay). Because John had a poor credit rating, his brother, Seymoure, agreed to cosign the installment sales contract. On June 23, 1981, Seymoure accompanied John to Lindsay and signed the contract on the…