ELEMENTS OF CLAIM BASED ON GUARANTY, SUCH AS PERSONAL GUARANTY OF CORPORATE / BUSINESS DEBT BY THE OWNER
The elements of a breach of a guaranty claim are: (1) the existence and ownership of the guaranty; (2) performance of the underlying contract by the holder; See Footnote 2 (3) the occurrence of the conditions upon which liability is based; and (4) the failure or refusal to perform the promise by the guarantor. See Wiman v. Tomaszewicz, 877 S.W.2d 1, 8 (Tex. App.-Dallas 1994, no writ); see also Simpson v. MBank Dallas, N.A., 724 S.W.2d 102, 107 (Tex. App.-Dallas 1987, writ ref'd n.r.e.) (stating that when a guaranty is in writing and signed by the guarantor, the guaranty's existence presumes consideration).