Layne v. Garner

One issue is presented in these consolidated appeals: Can a guarantor, who has paid part of the guaranteed debt, enforce contribution against his coguarantors without having paid the entire indebtedness, given that the guaranty agreement contained the following provision:

"5. The undersigned [the guarantors] will not exercise or enforce any right of contribution, reimbursement, resource, or subrogation available to the undersigned against any person liable to payment of the indebtedness, or as to any collateral security therefore, unless and until all of the indebtedness shall have been fully…