Paradies v. Universal C. I. T. Credit Corp., 34548

• Decision Date: 22 April 1953
• Docket Number: No. 34548,No. 1,34548,1
• Citation: 88 Ga.App. 75,76 S.E.2d 26
• Parties: PARADIES v. UNIVERSAL C. I. T. CREDIT CORP
• Court: Georgia Court of Appeals

Page 26

76 S.E.2d 26

88 Ga.App. 75

PARADIES v. UNIVERSAL C. I. T. CREDIT CORP.

No. 34548.

Court of Appeals of Georgia, Division No. 1.

April 22, 1953.

Syllabus by the Court.

Under the facts of the case, the court did not err in sustaining the demurrers to the defendant's answer or in directing a verdict for the plaintiff. The court eliminated from the case the obligations with reference to which the answer set forth a good defense. Since there is no brief of the evidence in the record or in the bill of exceptions, the question whether the plaintiff made out a case cannot be determined.

Universal C. I. T. Credit Corporation sued I. J. Paradies on a contract of suretyship, whereby the defendant allegedly guaranteed certain obligations of Haber Motors, a trade name for Robert F. Haber. The material part of such contract is as follows: 'To: Commercial Investment Trust Incorporated and/or Universal C. I. T. Credit Corporation and/or C. I. T. Corporation and/or Canadian Acceptance Corporation Limited: I, we, and each of us, jointly and severally, request you to extend the privilege of receiving motor vehicles and/or other merchandise under Trust Receipt or as bailee to, and/or to purchase and/or discount notes and/or other obligations (herein generally termed 'paper') or otherwise to do business with Haber Motors, LaGrange, Georgia, hereinafter called the Dealer, and in consideration thereof I, we, and each of us jointly, severally and unconditionally guarantee to you (which pronoun whenever used herein shall be held to include each of you, any subsidiary or affiliated company who shall do business with the Dealer and your and their respective successors and assigns) that the said Dealer will promptly and faithfully pay and discharge each obligation, present and future, and agree without your first having to proceed against said Dealer, or to liquidate the paper or any security held by you, to pay any and all sums due you from Dealer and all loss, costs, attorney's fees or expenses which may be suffered by you by reason of Dealer's default, and agree to be bound by and to pay any deficiency established by a sale of paper held whether with or without notice to us, pursuant to any instrument signed or to be signed by said Dealer. I, we, and each of us hereby subordinate to the payment of any sums now due or which may hereafter become due you from said Dealer, any sums due or which may hereafter become due to us or any of us from the said Dealer, and waive all rights with respect thereto until all obligations due or to become due you shall have been fully discharged and hereby assign such sums to you to apply on such obligations and agree to remit to you, on receipt, any moneys received on account of the indebtedness hereby subordinated. This guaranty shall become effective forthwith and shall continue indefinitely (whether or not subsequent financial statements are submitted to you by the Dealer) unaffected by the death of any of us, subject to the right of any of the undersigned or his estate to terminate his liability hereunder as to any loans to or purchases from or discounts of paper for said Dealer after termination of said guaranty by notice sent to you by registered mail, naming the date of termination which shall not be earlier than the date of receipt of such notice by you, but said guaranty shall continue in full force and effect as to any and all transactions prior to the effective date of termination, and as to any of the undersigned not giving such notice. The undersigned waive notice of the acceptance of this guaranty and of notice of non-payment, demand or protest of any note, or draft signed, accepted or endorsed by said Dealer, and any other notices required by law, and you may renew or extend any notes or other obligations of purchasers and/or of the Dealer and/or of co-guarantors or accept partial payments thereon or settle, release, compound or compromise any of the same and/or collect upon or otherwise liquidate paper and/or security held by you in manner as you may deem advisable without impairing any obligation of any of the undersigned. This guarantee covers cars handled on Trust Receipt and/or Chattel Mortgage. Maximum liability, $25,000. Dated at Atlanta, Ga., this 24 day of Sept., 1951. I. J. Paradis (Seal), 730 McMillan St., N. W....