Guarantee Trust Co. v. Collings

BUFFINGTON, Circuit Judge.

In the court below four men brought suit against the Guarantee Trust Company to recover on its guarantee, under its former corporate name, the amount payable on certain bonds and coupons issued by the Linwood Country Club. The guarantee, which was indorsed on said bonds, reads as follows:

Trust Company “For Value Received, and in consideration of the purchase of the within bond by the Holder assumes and guarantees the payment of principal and interest thereof when the same become due respectively.”

The case was heard by the court on the pleadings and affidavits. It…