Murray v. Payne

437 So.2d 47 (1983)

Charles Larry MURRAY

v.

Cecil H. PAYNE and James M. Flanagan.

No. 54393.

Supreme Court of Mississippi.

September 7, 1983.

Conrad Mord, Breed O. Mounger, Jr., Tylertown, for appellant.

J. Hal Ross, Brandon, Joseph M. Stinson, Tylertown, for appellee.

Before WALKER, P.J., and HAWKINS and ROBERTSON, JJ.

ROBERTSON, Justice, for the Court:

I

This case presents questions respecting the duties of guarantors who pay the maker's secured note and pending disposition of the collateral use it to make a profit. The guarantors, statutory subrogees by virtue of their having honored their guaranty…