Federal Deposit Insurance Corp., in Its Corporate Capacity, and as Receiver of Security National Bank v. Fred T. Nobles

REAVLEY, Circuit Judge:

This case requires us to determine whether the terms of a guaranty contract preclude the guarantor from arguing that the creditor breached its good faith duty (a duty we assume, without deciding, exists) to preserve the collateral securing the guaranteed debt by failing to perfect its security interest in that collateral. We conclude that the terms of the contract preclude the guarantor from making such an argument, and we affirm the district court’s summary judgment for the creditor.

I

On November 26, 1984, appellant Fred T. Nobles executed a continuing guaranty…