- 5 -
part thereof, shall be governed by and construed in accordance
with the laws of the State of Florida”.
The Guaranty
By an agreement dated October 28, 1994 (the guaranty
agreement), petitioner and his father, Frederick Jackson
(together, the guarantors):
jointly and severally, * * * absolutely,
unconditionally, and irrevocably, as a primary obligor,
guaranty to * * * [the bank] * * * full and prompt
payment when and as due * * * of all of the obligations
of * * * [the corporation] to * * * [the bank], plus
interest and costs and expenses of collection * * * all
without * * * [the bank] first having to proceed
against * * * [the corporation] or otherwise enforce,
or commence to enforce, payment thereof. The
Indebtedness guarantied herein shall extend to and
include all past, present and future obligations of any
nature, without limit or exception, of * * * [the
corporation] to * * * [the bank].
The guaranty agreement has a space to set forth the security
granted by the guarantors for the bank’s guaranty. That space is
blank. The guaranty agreement in evidence is one page in length.
It states that 10 paragraphs of the agreement appear on “the
revise [sic] side” of the page. Such reverse side is not in
evidence.
The Note
By a document entitled “Commercial Promissory Note” (the
note), dated November 21, 1995, the bank agreed to lend the
corporation $765,000. Among other things, the note provides that
its term is 5 years, the interest rate is 8.25 percent, both
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011