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Patton Sullivan Brodehl LLP

Guarantor Liability: Assignment of Note Doesn’t Automatically Assign Guaranty Too

Patton Sullivan Brodehl LLP on

Obligations reduced to a promissory note are often accompanied by a written guaranty. The law treats the guaranty as an independent obligation. A case recently decided by California’s First District Court of Appeal —...more

Stinson LLP

The Enforceability of Waiver of Defense Provisions in Guaranty Agreements

Stinson LLP on

It has been said that a guarantor is a fool with a pen. Even the Bible warns, "whoever puts up security for a stranger will surely suffer, but whoever refuses to shake hands in pledge is safe." Proverbs 11:15, NIV. That...more

Ballard Spahr LLP

Guarantors Are Not Protected by the Equal Credit Opportunity Act, Eighth Circuit Holds

Ballard Spahr LLP on

The U.S. Court of Appeals for the Eighth Circuit recently upheld summary judgment in favor of a lender, dismissing an action by the borrowers’ spouses alleging that the lender’s requirement that the spouses sign guaranties...more

Bracewell LLP

Texas Supreme Court Confirms General Waiver of Section 51.003 in Guaranty Agreements

Bracewell LLP on

On June 13, 2014, the Texas Supreme Court conclusively resolved the issue of whether a guarantor may generally waive his/her/its statutory right of offset under Section 51.003 of the Texas Property Code. In Moayedi v....more

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