California Court of Appeal

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Legendary Investors Group No. 1 v. Niemann, B245620

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