443 S.E.2d 549 (S.C. 1994), 24063, Citizens and Southern Nat. Bank of South Carolina v. Lanford

Docket Nº:24063.
Citation:443 S.E.2d 549, 313 S.C. 540
Opinion Judge:FINNEY, Justice:
Party Name:The CITIZENS AND SOUTHERN NATIONAL BANK OF SOUTH CAROLINA, Respondent, v. John F. LANFORD, William N. Geiger, Michael B. McKeithen, Mark M. King, Edward W. Pike, Jr., Dennis R. Gerwing, and Oscar S. Wooten, Defendants, of whom William N. Geiger is Appellant.
Attorney:A. Camden Lewis, of Lewis, Babcock & Hawkins, Columbia, for appellant. John T. Moore and Steven A. McKelvey, both of Nelson, Mullins, Riley & Scarborough, Columbia, for respondent.
Case Date:May 09, 1994
Court:Supreme Court of South Carolina
 
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Page 549

443 S.E.2d 549 (S.C. 1994)

313 S.C. 540

The CITIZENS AND SOUTHERN NATIONAL BANK OF SOUTH CAROLINA, Respondent,

v.

John F. LANFORD, William N. Geiger, Michael B. McKeithen,

Mark M. King, Edward W. Pike, Jr., Dennis R.

Gerwing, and Oscar S. Wooten, Defendants,

of whom William N. Geiger is Appellant.

No. 24063.

Supreme Court of South Carolina.

May 9, 1994

Heard Jan. 6, 1994.

Rehearing Denied June 7, 1994.

Page 550

[313 S.C. 542] A. Camden Lewis, of Lewis, Babcock & Hawkins, Columbia, for appellant.

John T. Moore and Steven A. McKelvey, both of Nelson, Mullins, Riley & Scarborough, Columbia, for respondent.

FINNEY, Justice:

This case arises from an action to enforce guaranty obligations under a Note and Guaranty of Payment. The circuit court awarded judgment to respondent, The Citizens and Southern National Bank (C & S), against appellant William N. Geiger for the full amount of the primary debt, plus interest and attorneys fees.

On January 14, 1988, Timberlake Plantation Company (Timberlake), through its representatives, executed a note in the amount of $185,000 to be paid in monthly installments over ten years to C & S. The note contained a Guaranty of Payment bearing the undisputed signatures of John F. Lanford, Michael B. KcKeithen, Mark M. King, Dennis R. Gerwing, Oscar S. Wooten, Edward W. Pike, Jr., and William N. Geiger. The note was secured by a mortgage on certain property owned by Timberlake. Subsequently, Timberlake filed for Chapter 11 bankruptcy, and C & S demanded payment from the guarantors. After being awarded judgment against McKeithen, King, Gerwing, Wooten and Pike, C & S moved for summary judgment against Geiger based upon the following terms of the Guaranty of Payment:

[313 S.C. 543] For value received, the undersigned (who if two or more in number, shall be jointly and severally liable hereunder) hereby unconditionally guarantee(s) the payment of this Note and all extensions or renewals thereof, and all expenses ... any of whom may be sued by the holder hereof with or without joining any of the other endorsers or makers of this Note and without first or contemporaneously suing such other persons, or otherwise seeking or proceeding to collect from them. (Emphasis added).

The trial court granted summary judgment in favor of C & S for $193,341.79, the entire amount of the note, holding that Geiger was bound...

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