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RANDLES v. HANSON

No. 29,427.

258 P.3d 1154 (2011)

2011-NMCA-059

Eve RANDLES, Plaintiff-Appellant, v. Allegra HANSON and KCB, LLC, Defendants-Appellees.

Court of Appeals of New Mexico.

April 27, 2011.

Attorney(s) appearing for the Case

Cuddy & McCarthy, LLP, Daniel J. Behles , Albuquerque, NM, for Appellant.

Allegra Hanson, Attorney at Law, Allegra Hanson , Albuquerque, NM, Pro Se Appellee.

Rodey, Dickason, Sloan, Akin & Robb, P.A., Edward Ricco , Jocelyn Drennan , Albuquerque, NM, for Appellee KCB, LLC.

OPINION

FRY, Judge.

{1} In this appeal, we must determine the legal and equitable remedies available to performing and contributing coguarantors against a principal debtor who has defaulted on a loan. Adopting the approach of the Restatement (Third) of Suretyship and Guaranty, we hold that a coguarantor who has fulfilled a duty of contribution to a performing coguarantor is entitled to recourse against a principal debtor as though the contributing...

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