Reconstruction Finance Corp. v. Mickelberry

HIGGINS, Justice.

The plaintiff, as the bona fide holder and pledgee, in due course, before maturity and for value, of two certain promissory notes secured by a continuing guaranty, brought this action against the guarantors thereof, jointly, severally, and in solido, for the payment of the balance due on them in principal, interest and attorney’s fees. Several defenses were interposed, to-wit: (1) That the act of guaranty is neither dated nor identified with the notes; (2) That the defendants, as guarantors, were released from liability because the plaintiff accepted a $5,-000 payment in full…