Liberty Bank v. Shimokawa

OPINION OF THE COURT BY

HAYASHI, C.J.

Liberty Bank appeals from the lower court’s decision invalidating the continuing guaranty given it by Appellee Asae Shomokawa and releasing her from liability on a promissory note executed after the execution of the guaranty.

The underlying issues which merit consideration are (1) whether the continuing guaranty as executed by appellee is a valid, enforceable contract of guaranty between the appellee and the bank and (2) whether there was adequate consideration given for subsequent loans made by the appellant-bank to the husband.

For the reasons stated…