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FOUNDERS BANK AND TRUST CO. v. UPSHER

No. 68660.

830 P.2d 1355 (1992)

FOUNDERS BANK AND TRUST COMPANY, a national banking association, Plaintiff-Appellee, v. Betty Lee UPSHER, Sidney P. Upsher and Philip Boyle, Jr., Defendants-Appellants, and 50 Rockwell Associates, Ltd., an Oklahoma limited partnership, Gary C. Johnston and John L. Hessel, general partners of 50 Rockwell Associates, Ltd., Gary C. Johnston and John L. Hessel, individuals, Star Construction Company, an Oklahoma corporation, and United States of America acting through the Small Business Administration, Defendants.

Supreme Court of Oklahoma.

March 17, 1992.

Attorney(s) appearing for the Case

John W. Swinford, Jr., Mitchell D. Black-burn, Hastie and Kirschner, Oklahoma City, for appellee.

John E. Sargent, Jr., Joseph H. Bocock, M. Richard Mullins, Kerry L. Balentine, McAfee & Taft, Oklahoma City, for appellants.

OPALA, Chief Justice.

Two questions are presented on certiorari: (1) Were the guarantors entitled to credit on the Bank's judgment against them for the fair market value of the property sold at sheriff's sale rather than for the amount of the sale's confirmed proceeds? and (2) Did the trial court correctly allot the amount realized from the security's sale to that portion of the judgment that is unaffected by the guaranty...

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