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COOK v. CRABTREE

733 S.W.2d 67 (1987)

D. Wiley COOK and Sam L. Cook, III, Appellants, v. David R. CRABTREE, Defendant, and Starling D. Crabtree, a/k/a Starling P. Davis, Appellee.

Supreme Court of Tennessee, at Nashville.

June 22, 1987.

Attorney(s) appearing for the Case

James C. Hofstetter, Hofstetter & Hofstetter, Nashville, for appellants.

Charles A. Trost, Waller Lansden Dortch & Davis, Dennis J. Meaker, Waller Lansden Dortch & Davis, Nashville, for appellee.

OPINION

FONES, Justice.

The controlling issue in this litigation is whether defendant Starling Davis, one of six sureties who guaranteed payment by a corporate debtor of a bank loan, was a cosurety liable for contribution to plaintiffs, who paid the bank, or a subsurety with no obligation to contribute.

On 27 July 1981, Cambridge Investment Corporation [CIC] was chartered for the purpose of forming a travel agency, Travel Unlimited. David Crabtree...

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