(Court opinion corrected 6/22/16.) Parties entered into "Interlocking Guaranty", in which one Defendant agreed to be a guarantor for any then-existing or future debt which another Defendant owed to Plaintiff financial corporation. Commercial loan provision in guaranty pertained only to specific transaction between Plaintiff and other defendant and did not operate to terminate continuing guaranty between guarantor and Plaintiff. Plain meaning of language of guaranty shows that parties entered into a continuing guaranty. Plaintiff's motion to add fees and costs to judgment was collateral and incidental to summary judgment ruling that guarantor appealed, and trial court thus had jurisdiction to address Plaintiff's motion. (KNECHT and HOLDER WHITE, concurring.)
Illinois Appellate Court
Civil Court
Guaranty