Watts v. Gross
Supreme Court of North Carolina
Watts v. Gross, 196 N.C. 103 (N.C. 1928)
Stacy
Watts v. Gross
Opinion of the Court
after stating the case: We agree with the trial court that the guaranties of the defendants, given to secure the debts of the Kinston corporation, in which the guarantors were interested, cannot be held, on the facts of the present record, to cover the obligations of a business in
A guaranty for tbe default of one person or firm is not to be extended to cover tbe default of another, in tbe absence of some provision or stipulation clearly importing sucb extension. 12 E. C. L., 1066; Note 19 L. E. A. (N. S.), 901.
Affirmed.
Reference
- Full Case Name
- RIDLEY WATTS, CHAS. H. MURPHY, ARTHUR R. JOHNSON, BENJAMIN S. DENNIS, C. WHITNEY DALL, and DONALD B. STEWART, Copartners, Trading as Ridley Watts & Co. v. A. I. GROSS and A. L. PEARSON
- Status
- Published