Georgia Grain & Stillage Co. v. First Georgia Bank

Marshall, Judge.

These companion cases both involve the grant of summary judgment in favor of the First Georgia Bank against two separate companies based upon defaulted promissory notes. The appellant companies are wholly owned by the other defendant-appellant, H. Jack Smith. Georgia Grain executed a $50,000 promissory note, and Ranger Lumber executed a $25,000 note. Smith personally guaranteed each note. It is not contested that each note is in default, that the bank seized certain collateral pledged under each note, gave notice of sale and thereafter sold the collateral, applying the…