Jones v. Dixie O'Brien Division

Carley, Judge.

Prior to May of 1977, Pilgrim Paint and Decorating Company (Pilgrim Paint) purchased paint on open account from appellee-plain-tiff. On May 5, 1977, appellant-defendant, who was an officer of Pilgrim Paint, executed a personal guaranty agreement in favor of appel-lee, promising to pay any indebtedness of Pilgrim Paint in an amount not exceeding $10,000. Subsequently, appellee filed a complaint *68against appellant, alleging that the outstanding balance on Pilgrim Paint’s account exceeded $10,000, that Pilgrim Paint was insolvent, and that appellant was indebted to appellee in the…