Legal Opinion
Randles v. Hanson
New Mexico Court of Appeals
Decided April 27, 2011No. 29,427PublishedCited by 15 opinions
1Opinion of the Court
OPINION
FRY, Judge.
{1} In this appeal, we must determine the legal and equitable remedies available to performing and contributing coguarantors against a principal debtor who has defaulted on a loan. Adopting the approach of the Restatement (Third) of Suretyship and Guaranty, we hold that a coguarantor who has fulfilled a duty of contribution to a performing coguarantor is entitled to recourse against a principal debtor as though the contributing coguarantor had performed the guaranty to the same extent as his or her contribution. Restatement (Third) of Surety-ship & Guaranty § 58 (1996). A…
2Cases cited18 opinions
- Mark V, Inc. v. MellekasNew Mexico Supreme Court · 1993
- C.R. Anthony Co. v. Loretto Mall PartnersNew Mexico Supreme Court · 1991
- City of Albuquerque v. BPLW Architects & Engineers, Inc.New Mexico Court of Appeals · 2009
- Hills Bank & Trust Co. v. ConverseSupreme Court of Iowa · 2009
- Levenson v. MobleyNew Mexico Supreme Court · 1987
13 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- ConocoPhillips Co. v. LyonsNew Mexico Supreme Court · 2012
- In Re Platinum Oil Properties, LLCUnited States Bankruptcy Court, D. New Mexico · 2011
- Judy Brown v. Judith M. LeeCourt of Appeals of Minnesota · 2015
- Central Market, Ltd. v. Multi-Concept Hospitality, LLCNew Mexico Court of Appeals · 2022
- Juarez v. THI of New Mexico at Sunset VillaNew Mexico Court of Appeals · 2022
10 more not listed; retrieve them via the Exa API.