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AMERICAN SECURITY BANK v. CLARNO

Docket No. 29194.

151 Cal.App.3d 874 (1984)

199 Cal. Rptr. 127

AMERICAN SECURITY BANK, Plaintiff, Cross-defendant and Appellant, v. HAROLD CLARNO, JR., Defendant, Cross-complainant and Appellant; GEORGE A. HUNTER, JR., Defendant, Cross-complainant and Respondent. RMG Tools, Inc., et al., Cross-defendants and Respondents.

Court of Appeals of California, Fourth District, Division Two.

February 7, 1984.

Attorney(s) appearing for the Case

COUNSEL

Best, Best & Krieger and Barton C. Gaut for Plaintiff, Cross-defendant and Appellant.

Steck & Marston and Emil Steck, Jr., for Defendant, Cross-complainant and Appellant and for Defendant, Cross-complainant and Respondent.

Gresham, Varner, Savage, Nolan & Tilden and Thomas N. Jacobson for Cross-defendants and Respondents.

OPINION

RICKLES, J.

Plaintiff bank brought suit to enforce the personal guarantees of individual defendants. They cross-complained seeking declaratory relief and exoneration from personal guarantees on two loans to their financially troubled business. The bank appeals the trial court's orders of exoneration.

FACTS

Defendants Clarno and Hunter were sole shareholders...

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