Matsushita Electric Corp. of America v. Salopek

Matsushita Electric Corporation of America appeals from a judgment entered on June 29, 1988, in its favor. Respondent Salopek cross-appeals. Both appeals dispute the trial court's application of a personal guaranty.

Matsushita does business as Panasonic. Respondent Salopek was president of Security Express, Inc., which began purchasing products from Panasonic in 1981. That relationship changed in 1983 or 1984 when Security became a dealer/distributor of Panasonic's products. Panasonic extended credit to Security on the basis of a letter of credit for $20,000, which expired on April 4, 1985.…