APACHE LANES, INC. v. NATIONAL EDUCATORS LIFE INS. CO.

Nos. 45446, 45440.

529 P.2d 984 (1974)

APACHE LANES, INC., a corporation, et al., Appellants, v. NATIONAL EDUCATORS LIFE INSURANCE COMPANY, Appellee.

Supreme Court of Oklahoma.

Rehearing Denied January 7, 1975.


Attorney(s) appearing for the Case

F. Paul Thieman, Jr., C. Rabon Martin, Crowe & Thieman, Tulsa, for appellants.

Best, Sharp, Thomas & Glass, Joseph A. Sharp and Jack M. Thomas, Tulsa, for appellee.


HODGES, Justice.

This is an appeal from the trial court which awarded judgment to the creditor against six individual guarantors based on a contract of guaranty after a mortgage foreclosure action which had resulted in a deficiency.

The issue to be decided is whether the failure of a creditor in a foreclosure proceeding to seek a deficiency judgment against the debtor also bars an action against a guarantor. The focal...

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