California Court of Appeal

Judgment of nonsuit in favor of defendants in an action for breach of commercial guaranty agreements is reversed and remanded for a new trial, where whether or not the bank's draw down on the letter of credit had the effect of releasing the debt of defendant-borrower, the defendant-guarantors remained obligated under the waivers in the guaranties because the debt was not actually paid in full.

Appellate Information

• Decided 03/25/2014
• Published 03/25/2014

Judges

• EPSTEIN

Court

• California Court of Appeal

Counsel