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SUMITOMO BANK OF CAL. v. IWASAKI

Docket No. L.A. 29576.

70 Cal.2d 81 (1968)

447 P.2d 956

73 Cal. Rptr. 564

SUMITOMO BANK OF CALIFORNIA, Plaintiff and Appellant, v. FRANK MIN IWASAKI, Defendant and Respondent.

Supreme Court of California. In Bank.

December 24, 1968.

Attorney(s) appearing for the Case

Mori & Katayama and Arthur S. Katayama for Plaintiff and Appellant.

Paul E. Homrighausen, Roland E. Brandel, Morrison, Foerster, Holloway, Clinton & Clark, Anderson, McPharlin & Conners and Robert C. Haase, Jr., as Amici Curiae on behalf of Plaintiff and Appellant.

Robert Y. Iwasaki for Defendant and Respondent.

Frederick E. Watson as Amicus Curiae on behalf of Defendant and Respondent.

TOBRINER, J.

Plaintiff brought this action on a "Continuing Guaranty" agreement which provided that defendant guaranteed all present and future indebtedness of Mikio and Yo Nagayama to the extent of $5,000 principal plus interest. Plaintiff sought recovery of the amounts owed by the Nagayamas on three loans, one of which plaintiff made several months after defendant executed the continuing guaranty. The trial court entered...

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