Defendant Ronald J. Ramos is attractive a view adopting the demo judge brought a verdict and only plaintiff Household Federal Savings & Loan Relationship (Home Government) off Ramos’s liability toward an unsecured loan warranty. We affirm.

Thomas Lynn, a major mortgage officer getting Home Federal, negotiated the latest contract with Brooks and you can waiting about three records-the borrowed funds modification agreement, the fresh promissory mention while the [229 Cal

Offender Ramos was president of Ramos/Jensen Providers (R/J Co.), a california organization. R/J Co. was the general spouse out-of a finite commitment, this new Peacock Ridge Company (Peacock), designed to complete the newest Peacock Ridge structure investment. Anywhere between September 1983 and you will March 1985, plaintiff House Government loaned almost $7.cuatro million with the Peacock partnership. All the four operating system.

When this occurs, Peacock owed substantial amounts during the accumulated desire along with other loans about the the project. House Government approved an excellent “work-out agreement” in which they forgave all but $100,000 of one’s notice and you may offered to financing Peacock an additional $50,000. Inturn, Peacock promised to do a great promissory mention to possess $150,one hundred thousand secured by your own guarantee finalized of the Ramos.

The fresh workout contract try discussed on the part of Peacock by Arthur Brooks, a keen R/J Co. employee. Software. three dimensional 1612] individual guarantee-that he taken to Brooks with regards to acquiring Ramos’s signature. Continuar lectura →