Foote & Davies, Inc. v. Arnold Craven, Inc.

WHICHARD, Judge.

Plaintiff contends the court erred in granting defendant’s motion for summary judgment, in that defendant’s president had either actual, implied, or apparent authority to bind the corporation to its guaranty, and the guaranty was supported by adequate consideration. We hold that there was evidence sufficient to warrant a jury finding that the guaranty signed for the corporation by its president was supported by valuable consideration. We also hold as a matter of law that defendant’s president had the apparent if not the actual authority to make a guaranty agreement binding on…