Ladd & Bush v. Hayes

HEALY, Circuit Judge.

Suit on a contract of guaranty was brought by appellant, Ladd & Bush, an Oregon banking corporation, against appellee, Hayes, a citizen and resident of California. The cause was tried without a jury arid judgment given in appellee’s favor.

The contract, signed by appellee on April 14, 1930, is as follows:

“Guaranty of Indebtedness. In consideration of One Dollar and of present and future loans and extensions of credit to L. O. Herrold, hereinafter referred to as the ‘Debtor’, by Ladd & Bush, bankers of Salem, Ore., hereinafter referred to as the ‘Bank’, the undersigned…