Federal Financial Co. v. Savage

The undisputed material facts are these. In February, 1984, the plaintiff’s predecessor in interest, Plymouth Home National Bank (bank), granted Ralsco, Inc. (Ral§co), a corporation of which the defendant became president following the death of her husband, a $90,000 loan which the defendant guaranteed in writing on a form of guaranty prepared by the bank. The 1984 guaranty provided that the defendant’s guaranty covered “any and all existing and future indebtedness” from Ralsco to the bank, and provided further that the guaranty “shall continue” as to all such indebtedness “prior to the…