Mandolfo v. Chudy

Severs, Judge.

The issue in this case is whether the plaintiffs-appellees, Joseph Mandolfo and Nancy Mandolfo, two of six coguarantors of a $325,000 promissory note, having received an assignment of said note and its guaranties, may recover the entire principal sum and accrued interest from the defendant-appellant, John P. Chudy, also a coguarantor, or is the Mandolfos’ recovery from Chudy limited to Chudy’s one-sixth pro rata share of the principal and interest due on the note. In short, does the doctrine of equitable contribution limit the Mandolfos’ recovery.

FACTUAL BACKGROUND

In August…