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CROWN LIFE INS. CO. v. LABONTE

No. 81-1955.

111 Wis.2d 26 (1983)

330 N.W.2d 201

CROWN LIFE INSURANCE COMPANY, Plaintiff-Respondent, v. Jack L. LABONTE, Defendant and Third-Party Plaintiff-Appellant, Lawrence J. ESSER and George T. Esser, Individually and d/b/a Eagle Investment Company, Third-Party Defendants-Respondents.

Supreme Court of Wisconsin.

Decided March 1, 1983.

Attorney(s) appearing for the Case

For defendant and third-party plaintiff-appellant there were briefs by William A. Nohr, David H. Hutchinson, Grace M. Masson and Walsh & Nohr, Milwaukee, and oral argument by William A. Nohr.

For plaintiff-respondent there was a brief by David A. Jarvis, Joseph D. Masterson and Quarles & Brady, Milwaukee, and oral argument by Mr. Jarvis.

For third-party defendants-respondents there was a brief by John T. Clark and Miller & Niebler, S.C., Milwaukee, and oral argument by Joseph C. Niebler.

On certification from court of appeals.

BEILFUSS, C.J.

This is an appeal from a judgment entered in favor of the plaintiff in an action to enforce a guaranty.

The action was commenced by the Crown Life Insurance Company (Crown) against Jack LaBonte demanding $45,000 pursuant to a contractual guaranty. The guaranty was executed as part of a $180,000 loan made by Crown to Diversified Holdings, Inc. (Diversified). The promissory note executed on June...

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