Bank of America v. Waters

Plaintiff Bank of America National Trust and Savings Association (Bank) appeals from a judgment in favor of defendants as guarantors on a continuing guaranty agreement dated August 9, 1957. As filed, the action sought to recover on a promissory note but at the time of trial it was dismissed without prejudice against the makers and pursued solely against the guarantors on the theory that although the written guaranty had been executed nearly two and a half years before the date of the promissory note upon which the action was based, it was a continuing liability.

The continuing guaranty…