Lakin v. Leoleis

This is an action brought by two co-makers and guarantors of a promissory note against the third co-maker and guarantor of said note, seeking contribution.

On April 26,1988, the plaintiffs and defendant executed and delivered a promissory note in the amount of $550,000 to the Home National Bank of Milford. The plaintiffs and defendant signed separate writings guaranteeing payment of said note, assuring prompt payment of the note and attorneys fees in the event of collection action occasioned by default. The note was secured by a mortgage on real estate the parties sought to develop.

Upon…