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GRANT SERVICE COMPANY v. HAROLD LEVY AND ADRIENNE P. LEVY (10/29/82)

filed: October 29, 1982.

GRANT SERVICE COMPANY, INC., APPELLANT,
v.
HAROLD LEVY AND ADRIENNE P. LEVY



No. 1167 Philadelphia, 1980, Appeal from the Order of the Court of Common Pleas, Civil Trial Division of Montgomery County, 1980, No. 76-1543.

COUNSEL

Walter W. Rabin, Philadelphia, for appellant.

Harold Levy, Philadelphia, appellant, in pro. per.

Albert C. Oehrle, Norristown, for Adrienne Levy, appellee.

Price, Watkins and Montgomery, JJ.

Author: Price

[ 306 Pa. Super. Page 96]

This is an appeal from a judgment n.o.v. entered in this action of mortgage foreclosure in favor of the appellee Adrienne P. Levy. We reverse and remand for consideration of the pending motion for new trial, on which we express no opinion.

In mid-1968, International Gas Light, Inc. ("IGL") found it needed financing and sought such financing from appellant, Grant Service Company ("Grant"). (R. 101a-102a). To secure this financing, Grant sought and received the personal guaranty of Harold Levy, appellee.*fn1 (R. 149a). To secure that guaranty, Harold Levy and his wife, Adrienne Levy, executed a mortgage in favor of Grant on their personal residence.*fn2 (R. 350a-357a). Both said mortgage and said guaranty expressly secured "advances made or to be made or credit given or to be given or other financial accommodations

[ 306 Pa. Super. Page 97]

    from time to time afforded [to IGL]."*fn3 The mortgage given expressly secures "all obligations set forth in that certain Guaranty Agreement dated June 6, 1968." (R. 352a). While no copy of the 1968 Guaranty Agreement was available below, both parties agreed that it contained the following language:

This guaranty shall be a continuing, absolute and unconditional guaranty and shall remain in full force and effect until written notice of its discontinuance shall be actually received by [Grant].*fn4

In 1971, IGL secured further financing from Grant. Grant also secured a new guaranty agreement from Harold Levy at this time. (R. 377a). IGL shortly thereafter instructed Grant to use some of the 1971 funds to pay off the remaining 1968 debt and Grant did so. (R. 376a).

Appellees contended below that notice had been sent to Grant discontinuing the 1968 guaranty agreement before the 1971 financing was extended. (R. 166a-168a). The evidence was uncontroverted, ...


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