Opinion ID: 1955855
Heading Depth: 1
Heading Rank: 3

Heading: Scope of Guaranty

Text: Frank Jahner contends that he is liable only for the $12,030.08 remaining on a note originally issued for $175,000 and is not liable under his guaranty for any other notes because they were not renewals of notes executed by Regent Lumber Company, Inc., but were notes later executed by Marvin Jahner when the lumber business was no longer being operated by Regent Lumber Company, Inc., and when Marvin Jahner had no authority to conduct business of the corporation. We disagree. In its special verdict, the jury found that Marvin Jahner acted as an agent of Regent Lumber Company, Inc., in executing the disputed notes. There is sufficient evidence to support the jury's finding. Furthermore, as the trial court said, Frank Jahner's guaranty was expressly limited to the sum of $80,500.00, and not limited to renewals of existing promissory notes. Frank Jahner's guaranty covered new and additional promissory notes, as well as renewals.