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CARRIER BROKERS, INC. v. SPANISH TRAIL

No. 870486-CA.

751 P.2d 258 (1988)

CARRIER BROKERS, INC., a Utah Corporation, Plaintiff, v. SPANISH TRAIL, a Utah corporation, Roger H. Mattson and John Does 1 through 6, Defendants. SPANISH TRAIL, a Utah corporation, Third-Party Plaintiff and Appellant, v. C.A. BAILEY and J.M. Stoof, Third-Party Defendants and Respondents.

Court of Appeals of Utah.

March 9, 1988.

Attorney(s) appearing for the Case

Gerald M. Conder (argued), Salt Lake City, for third-party plaintiff and appellant.

David E. Halliday (argued), Snow & Halliday, Salt Lake City, for third-party defendants and respondents.

Before GREENWOOD, ORME and BILLINGS, JJ.

OPINION

BILLINGS, Judge:

Spanish Trail appeals from the judgment of the trial court releasing C.A. Bailey ("Bailey") from his personal guaranty of an agreement between Spanish Trail and Carrier Brokers, Inc. ("Carrier"). We affirm.

Spanish Trail and Carrier entered into an agreement whereby Spanish Trail, a food broker who purchases and sells distressed and surplus food items, loaned Carrier $200,000 for 40 days so that Carrier could purchase 60...

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