Vineberg

This appeal is taken by one of two co-defendants from a judgment for plaintiff following a non-jury trial in an action to enforce a written guaranty of an open book account.

The evidence is essentially without conflict. Appellant and his codefendant owned all the stock in a corporation known as Plaza Cleaners, Inc. On September 29, 1959, this corporation was indebted to respondent for supplies in an amount in excess of $7,100. Respondent, through its Southern California manager, advised appellant that it could no longer carry said corporation on this basis and would continue to do so only if appellant and his coowner would sign a continuing guaranty. Appellant concedes that the business certainly would have had to close its doors forthwith had it been required to pay up this indebtedness before receiving further supplies from respondent. Accordingly, appellant and his coowner signed the guaranty.

This guaranty provided, inter alia, “Fob Value Received, and in consideration of your extending credit for any goods which you may at any time supply to Plaza Cleaners, Incorporated . . . , we hereby guarantee the payment of such sums of money, not exceeding at any one time $7,500.00,…