Beeler v. Martin

JAMES EDWARD WELSH, Presiding Judge.

When Rickey Martin and Billy Beeler needed a loan to start a business, they asked Billy Beeler’s parents, William E. Beeler and Norma L. Beeler (the Beelers), to guarantee the loan. The Beelers agreed and pledged their $46,000 certificate of deposit as collateral for a loan to Martin and Billy Beeler’s corporation. After the corporation defaulted and the bank used the Beelers’ CD to offset the balance due on the note, the Beelers sued Martin and Billy Beeler for indemnity and unjust enrichment. The circuit court granted judgment in favor of Martin and Billy…