United States of America, Small Business Administration v. Rene F. Sotomayor-Santos, Margarita Marquez-Goitia, Conjugal Partnership, Sotomayor-Marquez

In this appeal from a grant of summary judgment, the facts are easily summarized. On March 1, 1985, defendants Rene F. Soto-mayor-Santos (“Sotomayor”) and Margarita Marquez-Goitia (“Marquez”) guaranteed a $150,000 loan made by Banco Popular de Puerto Rico to Juana Diaz Trading Corporation (“the Corporation”), the loan being secured by various assets of the Corporation including real property and chattels. Soto-mayor was the vice-president of the Corporation. Because the Small Business Administration (“SBA”) guaranteed the Banco Popular loan, defendants were required to execute the SBA’s…