Vaughn v. National Bank Trust Company of Columbus

Full title: VAUGHN et al. v. NATIONAL BANK TRUST COMPANY OF COLUMBUS

Court: Court of Appeals of Georgia

Date published: Apr 12, 1977

234 S.E.2d 718 (Ga. Ct. App. 1977)

141 Ga. App. 897

Opinion

53761.

SUBMITTED APRIL 7, 1977.

DECIDED APRIL 12, 1977.

Action on contracts. Muscogee State Court. Before Judge Followill.

Smith Jones, Henry O. Jones, III, Owens, Littlejohn, Gower Pugh, Charles A. Gower, for appellants.

Hatcher, Stubbs, Land, Hollis Rothschild, J. Barrington Vaught, E. B. Bradly, for appellee.

WEBB, Judge.

Defendant guarantors, having consented in advance in a clause of the guaranty agreement that the creditor could surrender or release the reserve account held as security for payment of the debts guaranteed, cannot now successfully contend that they were discharged by the act of the creditor in applying it to the obligations guaranteed. Dunlap v. C S DeKalb Bank, 134 Ga. App. 893, 896 ( 216 S.E.2d 651) (1975) and cits.

Judgment affirmed. Deen, P. J., and Marshall, J., concur.

SUBMITTED APRIL 7, 1977 — DECIDED APRIL 12, 1977.