Legal Opinion
American Bank of Commerce v. Covolo
New Mexico Supreme Court
Decided September 16, 1975No. 10025PublishedCited by 49 opinions
1Opinion of the Court
OPINION
STEPHENSON, Justice.
This appeal involves two consolidated cases in which the district court determined there was no liability on the part of the individual defendants to the American Bank of Commerce (the Bank) upon their guaranties of certain corporate notes and upon other promissory notes.
Desiring to enter the restaurant business, Italo’s, Inc. (the Corporation) sought financing from the Bank. As part of the security for a $100,000 loan, the Bank took a first mortgage on the Corporation’s real estate, a pledge of and second lien upon the liquor license of Italo Covolo, one of the…
2Cases cited17 opinions
- Clark Leasing Corp. v. White Sands Forest Products, Inc.New Mexico Supreme Court · 1975
- White v. Household Finance CorporationIndiana Court of Appeals · 1973
- Joe Heaston Tractor & Implement Company, a New Mexico Corporation v. Securities Acceptance Corporation, a Delaware CorporationCourt of Appeals for the Tenth Circuit · 1957
- State Ex Rel. Clinton Realty Co. v. ScarboroughNew Mexico Supreme Court · 1967
- D. W. Jaquays & Co. v. First Security BankArizona Supreme Court · 1966
12 more not listed; retrieve them via the Exa API.
3Cited by49 opinions
- Connecticut National Bank v. DouglasSupreme Court of Connecticut · 1992
- Peoples Bank and Trust Company v. CermackMississippi Supreme Court · 1995
- Federal Deposit Insurance Corp., in Its Corporate Capacity v. Cardinal Oil Well Servicing Co., Inc., Jim Cardinal, Don H. Wilson and Paul ConditCourt of Appeals for the Fifth Circuit · 1988
- Bank of Crockett v. CullipherCourt of Appeals of Tennessee · 1988
- MacK Financial Corp. v. ScottIdaho Supreme Court · 1980
44 more not listed; retrieve them via the Exa API.