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TOLAND v. KEY BANK OF WYOMING

No. 92-34.

847 P.2d 549 (1993)

Joe H. TOLAND and Mary Lynn Toland, Appellants (Defendants and Third Party Plaintiffs), v. KEY BANK OF WYOMING, formerly First Wyoming Bank Sheridan Main, Trustee of the Henry G. Oswald and Margaret Oswald Trust created for the benefit of Henry G. Oswald and Margaret Oswald and their descendants under the Trust Agreement dated March 31, 1987, Appellees (Plaintiffs and Counter Defendants), and Henry G. Oswald and Margaret Oswald, husband and wife, Appellees (Third Party Defendants).

Supreme Court of Wyoming.

February 19, 1993.

Attorney(s) appearing for the Case

Timothy S. Tarver, Sheridan, for Tolands.

Kim D. Cannon of Burgess, Davis, Carmichael & Cannon, Sheridan, and Kate M. Fox of Burgess, Davis, Carmichael & Cannon, Cheyenne, for Key Bank of Wyoming.

H.W. Rasmussen of Badley & Rasmussen, P.C., Sheridan, for Oswalds.

Before MACY, C.J., THOMAS, URBIGKIT and GOLDEN, JJ., and BROWN, J., Retired.

MACY, Chief Justice.

Joe and Mary Toland appeal from a summary judgment order in which the district court declared that Key Bank of Wyoming, Trustee of the Henry G. Oswald and Margaret Oswald Trust, was partially discharged of its obligations as guarantor of Oswald Jewelry & Gifts, Inc. in an owner-financed, business-sale transaction. The district court discharged Trustee Key Bank to the extent that the Tolands had impaired the collateral pledged as security for...

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