First Savings Bank, FSB v. Capital Investors
First Savings Bank, FSB v. Capital Investors
Opinion of the Court
We grant certiorari to review the Court of Appeals’ decision in The First Savings Bank v. Capital Investors, 316 S.C. 360, 450 S.E. (2d) 83 (Ct. App. 1994). We affirm the decision except insofar as it affirms the attorneys fee awards against the individual petitioners on their guaranties. These attorneys fees awards are reversed and the issue remanded for a determination of a reasonable fee.
Respondent sued petitioner Capital Investors on a note and the individual petitioners on their personal guaranties. The
A note and guaranty are two separate contracts. C & S Nat'l Bank v. Lanford, 313 S.C. 540, 443 S.E. (2d) 549 (1994). Where a contract provides for a reasonable attorney’s fee, the judge must determine the appropriate award based on the evidence presented, considering the appropriate factors. Blumberg v. Nealco, Inc., 310 S.C. 492, 427 S.E. (2d) 659 (1993). Accordingly, the issue of the proper amount of the individual petitioners’ attorney’s fees award is reversed and remanded.
Affirmed in part; reversed in part.
Reference
- Full Case Name
- The FIRST SAVINGS BANK, FSB v. CAPITAL INVESTORS, a South Carolina Joint Venture, J. Key Powell, Hampton N. Metts, Cynthia R. Engel, and Albert E. Engel, Defendants/Third-Party v. Ray DAVIS, Al Barnett, and Thomas B. McTeer, Jr., Third-Party Of which Capital Investors, a South Carolina Joint Venture, J. Key Powell, Cynthia R. Engel, and Albert E. Engel are
- Cited By
- 2 cases
- Status
- Published