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AMERICAN BANK OF COMMERCE v. COVOLO

No. 10025.

540 P.2d 1294 (1975)

88 N.M. 405

AMERICAN BANK OF COMMERCE, Plaintiff-Appellant, v. Italo J. COVOLO, Oliver Marianetti, A. W. Dekker, George T. Harris, Jr., Lloyd Hurley, Joseph R. McNeany and Lawrence Wilkinson, Defendants-Appellees. Arthur W. Dekker et al., Plaintiffs-Appellees, v. AMERICAN BANK OF COMMERCE, Defendant-Appellant.

Supreme Court of New Mexico.

Rehearing Denied October 7, 1975.

Attorney(s) appearing for the Case

Coors, Singer & Broullire, Robert N. Singer, Henry G. Coors, IV, Albuquerque, for appellants.

Joseph R. McNeany, pro se.

Modrall, Sperling, Roehl, Harris & Sisk, John R. Cooney, Paul M. Fish, Albuquerque, for Marianetti and others.

Mark B. Thompson, III, Albuquerque, for Hurley.

OPINION

STEPHENSON, Justice.

This appeal involves two consolidated cases in which the district court determined there was no liability on the part of the individual defendants to the American Bank of Commerce (the Bank) upon their guaranties of certain corporate notes and upon other promissory notes.

Desiring to enter the restaurant business, Italo's, Inc. (the Corporation) sought financing from the Bank. As part of the security for a $100,000 loan...

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