Wells Fargo Bank, N. A. v. Midwest Realty & Finance, Inc.

CROCKETT, Justice:

Plaintiff, Wells Fargo Bank, sued defendant, Midwest Realty & Finance, Inc., to recover for loans made to defaulting Lee Chair Corporation, for which Midwest had signed two successive guaranty agreements, one in November, 1970, for $60,000; and another in December, 1970, for $130,000. Midwest’s defense was that by a letter quoted below, it had notified Wells Fargo of its revocation of the guaranty, as permitted by the contract, before Wells Fargo had continued to advance the money for which now it sues. A trial to the court resulted in findings and judgment in favor of the…