Central Bank & Trust Co. v. Tyler
Central Bank & Trust Co. v. Tyler
Opinion of the Court
Appellant, the plaintiff below, appealed from a summary judgment for the defendant in an action on a guaranty contract. The plaintiff bank extended credit to Miami Auto Auction, Inc. for which defendant was guarantor. On terminating the credit in September 1959, the bank called on the guarantor to make good the deficit which, after examination of its records, it reported to be $20,060.72. Thereafter, on December 23, 1959, the guarantor paid said amount, and his .collateral and the guaranty agreement were returned to him by the bank.
The trial judge properly held the defendant was entitled to judgment as a matter of law. Appellant’s contention that the guaranty was revived to cover the amount which, after settling with the guarantor,
Affirmed.
. The December 23 transaction was accompanied by a letter from the guarantor to the bank and the latter’s acknowledgment, as follows:
“Central Bank and Trust Company 1310 N W 36 Street Miami, Florida
“Attn: Stanley H. Wolff, President
“Dear Sir:
“Enclosed herein is Central Bank and Trust Company Cashiers Check dated December 23, 1959 payable to the order of Central Bank and Trust Company in the amount of $20,060.72. This check represents reimbursement in full of all of the Bank’s losses incurred as a re-suit of the banking and business transactions of Miami Auto Auction Inc. with the Central Bank and Trust Company. Said payment is made by me by virtue of my individual personal guarantee dated April 17, 1959, indemnifying the Bank against any such loss.
“Very truly yours,
“(s) A. M. Tyler
“am
“Keceived and accepted this date above written. “Central Bank and Trust Company
“By
“(s) S. H. Wolff, Pres.”
Case-law data current through December 31, 2025. Source: CourtListener bulk data.