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Contract – Guaranty – Part of Loan – Partial Pay-Off (access required)

Bank of the Carolinas v. Burkett Even though defendant guaranteed only $100,000 of the borrower’s $678,776 loan, and even though the borrower paid more than $100,000 of its balance before it defaulted, since the borrower still owes more than $100,000, defendant is still liable under his guaranty.

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