Allen v. Hartsfield Co.

The plaintiff corporation was engaged in lending money, under an arrangement whereby the borrower purchases from the lender an investment certificate and becomes a member of such corporation, executing a note for the purchase-price of the certificate, payable to the lender in monthly installments, the payment of which note is guaranteed by two or more persons acceptable to the lender, and the lender then advances to the- borrower on the investment certificate the sum borrowed. The plaintiff brought suit against two defendants as guarantors of a note of a person who had executed the note for…