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FEDERAL DEPOSIT INS. CORP. v. NOBLES

No. 89-1605.

901 F.2d 477 (1990)

FEDERAL DEPOSIT INSURANCE CORP., In Its Corporate Capacity, and as Receiver of Security National Bank, Plaintiff-Appellee, v. Fred T. NOBLES, Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

May 21, 1990.

Attorney(s) appearing for the Case

C.H. Brockett, Jr., Brockett, Cunningham & Bates, Midland, Tex., for defendant-appellant.

Mary P. Davis, FDIC, Washington, D.C., for plaintiff-appellee.

Before GOLDBERG, REAVLEY and HIGGINBOTHAM, Circuit Judges.

REAVLEY, Circuit Judge:

This case requires us to determine whether the terms of a guaranty contract preclude the guarantor from arguing that the creditor breached its good faith duty (a duty we assume, without deciding, exists) to preserve the collateral securing the guaranteed debt by failing to perfect its security interest in that collateral. We conclude that the terms of the contract preclude the guarantor from making such an argument, and we affirm the district...

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