California Court of Appeal

In this case, plaintiff seeks to enforce a Guaranty and Indemnity Agreement that defendants signed in favor of plaintiff's predecessor-in-interest for the outstanding obligations owed by the borrowers on a promissory note. Summary judgment in favor of plaintiff is reversed, and the case is remanded for a recalculation of the prepayment fee, where, even though the legal issue was not raised before the trial court, the documents should be interpreted so that the prepayment obligation only accrues upon payment and not on accelerate of the promissory note.

Appellate Information

• Decided 12/17/2014
• Published 12/17/2014

Judges

• Mosk

Court

• California Court of Appeal

Counsel