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UNITED STATES v. KLEBE TOOL & DIE CO.

5 Wis.2d 392 (1958)

UNITED STATES, Appellant, v. KLEBE TOOL & DIE COMPANY and others, Respondents.

Supreme Court of Wisconsin.

November 5, 1958.

Attorney(s) appearing for the Case

For the appellant there was a brief and oral argument by Charles E. Lyon of Elkhorn.

For the respondents there was a brief by Morrissy, Morrissy, Zastrow & Sweet of Elkhorn, and oral argument by Philip B. Morrissy.

CURRIE, J.

The principal issue on this appeal is whether any lack of due diligence of the R. F. C. in proceeding against the principal debtor, or any waiver or release of collateral, had the effect of releasing the Klebes from the guaranty.

The key provisions in the guaranty executed by Mr. and Mrs. Klebe read as follows:

"The undersigned [Carl and Elsie Klebe] hereby grants to Reconstruction Finance Corporation full power, in its uncontrolled discretion...

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