Griswold v. Whetsell

Quillian, Chief Judge.

This is an action on a promissory note. The defendant Griswold signed the “Guaranty of Payment” on the reverse side of the note. The original holders, Whetsell and Fountain, assigned the note to the Spivey State Bank. All three brought this action as plaintiffs.

Plaintiffs argued to the trial court that Griswold was a surety and primarily liable upon the note. Griswold contended she was a guarantor, and set forth two defenses in her answer: (1) the contract of guaranty was void for want of consideration, and (2) plaintiffs impaired the collateral — thus altering the…