Texas West Oil and Gas Corp. v. Fitzgerald

I concur in the decision of this court to affirm the arbitration award, and respectfully and comprehensively dissent in the decision establishing guarantor liability by application of a tort theory of an intentional interference with a contract.

This is a singularly important banking-industry decision. Principles of suretyship and law merchant invoked in this case are as old as Roman law, and perhaps older.1 Succinctly stated, this case concerns the rights retained against the principal and his assets when the guarantor is required to stand good on a guaranty. The contention of intentional…