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VALLEY BANK OF COMMERCE v. HILBURN

No. 24,204.

105 P.3d 294 (2004)

136 N.M. 741

2005-NMCA-004

VALLEY BANK OF COMMERCE, a New Mexico banking association, Plaintiff-Appellant, v. Jerry and Lois HILBURN, Defendants-Appellees.

Court of Appeals of New Mexico.

August 5, 2004.

Attorney(s) appearing for the Case

Richard E. Olson, James M. Hudson, Hinkle, Hensley, Shanor & Martin, L.L.P., Roswell, NM, for Appellant.

Kenneth R. Wagner, Thomas J. McBride, Wagner, McBride, Ford & Associates, P.A., Martin E. Threet, Martin E. Threet & Associates, Albuquerque, NM, for Appellees.

OPINION

PICKARD, Judge.

{1} Jerry and Lois Hilburn (the Hilburns) executed a continuing guaranty of debts that Western Auto Rentals and Sales, Inc. (WARS) owed to Valley Bank of Commerce (Bank). When WARS defaulted on a $1.4 million loan, Bank negotiated settlements with WARS and the other individuals who had guaranteed the loan. The Hilburns did not participate in the settlement, contending that they were not liable for the debt. Bank sued the Hilburns...

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