Guarantor Liability

127 Florida cases classified under this topic · sorted by citation count · see the citation graph · browse and sort

• DeMELLO v. Adams Tr.
  914 So. 2d 1090· Fla. 4th DCA· 2005-11-30 ·cited 61×
  DeMello appeals from a civil contempt order holding her responsible for unpaid rent on a Connecticut property held in trust. The court reverses, finding that the original judgment did not explicitly obligate DeMello personally to pay rent and that contempt cannot be based on impl
• Mid-State Fertilizer Co. v. Exch. Nat'l Bank OF Chicago
  877 F.2d 1333· 7th Cir.· 1989-06-19 ·cited 52×
  The court affirmed the district court's judgment, finding that the Kimmels lacked standing for RICO and Bank Holding Company Act claims, and that Mid-State failed to allege valid fraud for a RICO claim.
• Hibiscus Assocs. Ltd. v. Bd. OF Trs. OF the Policemen & Firemen Ret. Sys. OF the City OF Detroit
  50 F.3d 908· 11th Cir.· 1995-04-20 ·cited 42×
  The Eleventh Circuit reversed the district court's grant of judgment notwithstanding the verdict (JNOV) and new trial on the rescission claim, holding that Florida law permits rescission for breach of a dependent covenant that goes to the heart of a contract, and that substantial
• Thunderbird, Ltd. v. Great Am. Ins. Co.
  566 So. 2d 1296· Fla. 1st DCA· 1990-06-18 ·cited 37×
  Great American Insurance Company foreclosed on mortgages held by Thunderbird, Ltd. and sought deficiency judgment against guarantors (the Wilsons and Brownings). The court addressed whether foreclosure proceeds should be applied pro rata among three notes or first to the non-guar
• Wilensky v. Fields
  267 So. 2d 1· Fla.· 1972-07-12 ·cited 36×
  The Florida Supreme Court held that a 1969 criminal usury statute (Chapter 69-135, Section 687.071) does not retroactively apply to usurious corporate loans made before its enactment, and does not impliedly repeal the 1965 statute (Section 687.11) limiting penalties for corporate
• Fla. Med. Ctr., Inc. v. McCOY
  657 So. 2d 1248· Fla. 4th DCA· 1995-07-12 ·cited 33×
  Florida Medical Center sued Regina McCoy for unpaid hospital bills incurred by her deceased husband, asserting she was liable as a party or guarantor under an admission form both signed. The trial court found her not liable for the bill, but awarded her attorney's fees under the
• Fed. Deposit Ins. Corp. v. Petersen
  770 F.2d 141· 10th Cir.· 1985-08-06 ·cited 30×
  The court held that the federal statute of limitations, not the Illinois statute, applied and barred the FDIC's claim against the guarantors.
• United States v. Outriggers, Inc.
  549 F.2d 337· 5th Cir.· 1977-03-23 ·cited 28×
  The court held that the express terms of the SBA guaranty agreement allowed the SBA unfettered discretion to deal with collateral, and thus the deletion of one signatory's name did not release other guarantors who had agreed to be unconditionally bound.
• R.I.D.C. Indus. Dev. Fund v. Snyder
  539 F.2d 487· 5th Cir.· 1976-09-27 ·cited 28×
  A bankruptcy court has jurisdiction to confirm a Chapter XI arrangement voluntarily entered into by a secured creditor, and such an arrangement does not affect the liability of the debtor's guarantors for the remaining unpaid debt.
• McKNIGHT v. United States
  259 F.2d 540· 9th Cir.· 1958-09-22 ·cited 28×
  The court held that a veteran's liability to indemnify the government for losses on a guaranteed loan is fixed at the time of the foreclosure sale, and subsequent resale profits by the government do not reduce this liability.
• Sec. & Exch. Comm'n v. Am. Realty Tr.
  586 F.2d 1001· 4th Cir.· 1978-11-17 ·cited 26×
  Proof of scienter is unnecessary for the SEC to obtain an injunction against future violations of § 17(a) of the Securities Act of 1933, and negligent misstatements or omissions are sufficient.
• Aldon Indus., Inc. v. DON Myers & Assocs., Inc.
  517 F.2d 188· 5th Cir.· 1975-08-07 ·cited 26×
  The court held that a seller can recover the price of accepted goods based on a computer printout of accounts receivable if delivery is proven. However, a buyer cannot recover consequential damages for lost prospective profits based on speculative evidence of causation and amount
• Hawkins v. Mitchell
  34 Fla. 405· Fla.· 1894-06-01 ·cited 24×
  This case addresses whether Florida's Internal Improvement Fund is liable for interest on railroad bonds after the bonds mature. The Florida Supreme Court held that the Fund was a guarantor of interest only up to maturity, not thereafter, based on the plain language of the 1855 I
• Union Carbide Corp. v. Newboles
  686 F.2d 593· 7th Cir.· 1982-08-16 ·cited 23×
  A creditor's approval of a bankruptcy plan does not discharge the bankrupt's guarantors, and the bankruptcy court lacks the power to discharge such liabilities.
• Troup Bros., Inc. v. State of Fla. for the Use & Benefit of Meadows S. Constr. Co., Inc.
  135 So. 2d 755· Fla. 2d DCA· 1961-12-13 ·cited 22×
  Troup Brothers, as general contractor and surety on a statutory construction completion bond, challenged a judgment in favor of Meadows Southern Construction Co., an equipment lessor seeking unpaid rental fees. The court reversed, holding that the equipment lessor was a supplier
• In re Sure-Snap Corp. v. The State OF Vt. Acting
  983 F.2d 1015· 11th Cir.· 1993-02-16 ·cited 21×
  A debtor corporation appealed a bankruptcy court decision upholding a mortgage and security agreement after its Chapter 11 plan was confirmed, and the creditor sought appellate attorney fees under a contractual provision. The court held that confirmation of the plan discharged pr
• Goodfriend v. Elbert J. Druck
  289 So. 2d 710· Fla.· 1974-01-10 ·cited 21×
  In this promissory note collection case, the Florida Supreme Court held that when reviewing a judgment on appeal, courts must apply the law in effect at the time of appellate disposition rather than at the time the obligation was incurred. The Court reversed the District Court's
• Abdalla v. Commissioner OF Internal Revenue
  647 F.2d 487· 5th Cir.· 1981-06-12 ·cited 18×
  The court affirmed the Tax Court's judgment but rejected its reasoning, holding that the plain language of the Internal Revenue Code mandates the result, even if it appears contrary to Congressional intent.
• Stratmore v. United States
  420 F.2d 461· 3d Cir.· 1970-01-06 ·cited 18×
  A guarantor's payment on a corporate note, even if settled for less than the full amount, results in a non-business bad debt loss, not a loss from a transaction entered into for profit, to prevent taxpayers from converting capital losses into ordinary losses.
• Ingersoll-Rand Fin. Corp. v. Miller Mining Co., Inc.
  817 F.2d 1424· 9th Cir.· 1987-05-26 ·cited 17×
  A secured party's failure to dispose of repossessed collateral in a commercially reasonable manner creates a presumption that the collateral's value equals the debt, eliminating any deficiency. The automatic bankruptcy stay applies to the debtor's appeal but not the guarantor's.
• Seng v. Seng
  590 So. 2d 1120· Fla. 5th DCA· 1991-12-27 ·cited 16×
  In this dissolution of marriage case, the former husband appealed the trial court's denial of his motions for contempt and arrearage, arguing the dissolution court had jurisdiction to enforce the former wife's guarantee of a corporate promissory note for $3,000 weekly payments. T
• In re Am. Hardwoods, Inc. v. Deutsche Credit Corp.
  885 F.2d 621· 9th Cir.· 1989-09-15 ·cited 16×
  The bankruptcy court lacks the power under 11 U.S.C. § 105(a) to issue a permanent injunction against a creditor enforcing a state court judgment against nondebtor guarantors, as this would effectively discharge their liability, which is prohibited by 11 U.S.C. § 524(e).
• Golder v. Commissioner OF Internal Revenue
  604 F.2d 34· 9th Cir.· 1979-06-22 ·cited 14×
  Payments made by guarantors of a corporation's debt are not deductible as interest on their own indebtedness under I.R.C. § 163(a).
• The Unlaub Co., Inc. v. Sexton
  568 F.2d 72· 8th Cir.· 1977-12-21 ·cited 14×
  The court held that the seller is entitled to recover the unpaid balance of the contract price from the guarantor when the buyer accepted the goods by failing to reject them after proper tender and opportunity to inspect, as per the Uniform Commercial Code.
• Miller v. Est. OF Elaine Benedict Baer
  837 So. 2d 448· Fla. 4th DCA· 2002-12-11 ·cited 12×
  In this probate appeal, the Florida Fourth District Court of Appeal affirmed the trial court's determination that Citibank was a reasonably ascertainable creditor entitled to actual notice of the estate administration, and thus was permitted to file its claim after the non-claim
• Util. Control Corp. v. Prince William Constr. Co., Inc.
  558 F.2d 716· 4th Cir.· 1977-07-08 ·cited 12×
  The court held that the district court erred in granting summary judgment mid-trial without proper notice and opportunity for the defendant to present evidence, and that evidence of a prior unrelated guarantee was improperly admitted against the co-defendant.
• Bolling v. Commissioner OF Internal Revenue
  357 F.2d 3· 8th Cir.· 1966-02-28 ·cited 12×
  Amounts pledged as collateral for customer loans are includable in income for accrual basis taxpayers, and guarantors are not denied deductions for reasonable additions to bad debt reserves.
• Joseph F. Hughes & Co. v. MacHen
  164 F.2d 983· 4th Cir.· 1947-12-22 ·cited 12×
  A bank's set-off of a bankrupt's deposits against its debt is not a preferential transfer under the Bankruptcy Act if the deposits were made in good faith in the ordinary course of business.
• Philadelphia Co. v. Sec. & Exch. Comm'n
  164 F.2d 889· D.C. Cir.· 1947-10-08 ·cited 12×
  The court held that the SEC's amendment to Rule U-49(c) is reviewable as an order, and a stay should be granted pending disposition of the petition for review.
• Trs. of the Internal Improvement Fund v. Lewis
  34 Fla. 424· Fla.· 1894-06-01 ·cited 12×
  The Florida Supreme Court affirmed a decree requiring the Trustees of the Internal Improvement Fund to pay interest coupons on railroad bonds, holding that detached coupons constitute independent negotiable instruments enforceable against the trustees even after the principal bon
• Peacock v. Farmers & Merchs. Bank
  454 So. 2d 730· Fla. 1st DCA· 1984-08-17 ·cited 11×
  Homeowners who personally guaranteed loans to their company appealed a foreclosure judgment on their residence and other personal property. The court affirmed the foreclosure, rejecting their claims that the bank impaired collateral, materially altered notes, and violated their r
• Cent. Bank & Tr. Co. v. Diaz
  442 So. 2d 1005· Fla. 3d DCA· 1983-11-22 ·cited 11×
  Florida appellate court reversed denial of mortgage foreclosure, holding that unambiguous mortgage and guaranty language cannot be varied by parol testimony, and bank was entitled to foreclose on guarantor's property.
• United States v. Porter
  581 F.2d 698· 8th Cir.· 1978-07-21 ·cited 11×
  The court held that the original SBA requirements were not conditions to the guarantors' obligations, and that payments made to Willmering did not affect the guarantors' liability.
• Cooper Petroleum Co. v. Henry Hart in Bankr. of Int'l Mktg., Inc.
  379 F.2d 777· 5th Cir.· 1967-06-29 ·cited 11×
  Payments made on open account to a creditor with reasonable cause to believe the debtor was insolvent are voidable preferences, even if new goods were also delivered.
• In re Deist Forest Prods., Inc.
  850 F.2d 340· 7th Cir.· 1988-06-29 ·cited 10×
  The court held that the debtor (Forest Products) lacked standing to seek an injunction against the bank's suit against the guarantors because the debtor sought relief solely for the benefit of the guarantors, not for itself.
• United States v. Little JOE Trawlers, Inc.
  776 F.2d 1249· 5th Cir.· 1985-11-19 ·cited 10×
  Texas law does not require notice of intent to accelerate for a guarantor of an installment note, and the broad terms of the guaranty contract further obligate the guarantor to pay regardless of such notice.
• United States v. Anderson
  366 F.2d 569· 10th Cir.· 1966-09-30 ·cited 10×
  Guarantors are not liable for unnecessary administrative costs incurred by the SBA in Chapter X bankruptcy proceedings, as the SBA had an immediate cause of action against them upon default.
• Commercial Credit Corp. v. Sorgel
  274 F.2d 449· 5th Cir.· 1960-01-18 ·cited 10×
  The court held that the jury's findings regarding fraud and the treatment of assigned accounts as payment were not supported by sufficient evidence, and that certain ledger entries must be given effect.
• Rooks v. Shader
  384 So. 2d 681· Fla. 5th DCA· 1980-05-21 ·cited 9×
  Rooks appealed the dismissal of his complaint against three defendants who allegedly guaranteed a stock repurchase obligation under a real property sale contract. The court reversed the dismissal of Count I, finding the defendants provided an absolute guaranty rather than a condi
• United States v. Rollinson
  866 F.2d 1463· D.C. Cir.· 1989-02-03 ·cited 8×
  The court held that a modification agreement that extends the maturity date of a loan, entered into by the SBA as assignee and the principal debtor, restarts the statute of limitations for actions against the loan's guarantors, provided the original guaranty agreements permitted
• Nunn v. Chem. Waste Mgmt., Inc.
  856 F.2d 1464· 10th Cir.· 1988-09-02 ·cited 8×
  The court held that the trial court did not err in finding a breach of warranty regarding site contamination and compliance with laws, but erred in awarding lost profits to a non-party corporation and in discharging the defendants from their contractual obligations.
• Starcraft Co. v. C.J. Heck Co. OF Tex., Inc.
  748 F.2d 982· 5th Cir.· 1984-12-17 ·cited 8×
  The dissenting judge would hold that the Bank is absolutely liable to Starcraft for the face value of the check and that the Johnsons remain liable as guarantors for prior transactions.
• United States v. Palmer
  578 F.2d 144· 5th Cir.· 1978-08-14 ·cited 8×
  Guarantors of a secondary mortgage lack standing to attack the foreclosure sale of the primary mortgage, even if the sale leaves nothing for the secondary mortgage. They also cannot bring fraud claims based on oral promises due to the statute of frauds.
• S & W Motors v. Mack Trucks, Inc.
  198 So. 2d 70· Fla. 1st DCA· 1967-04-20 ·cited 8×
  S&W Motors, a truck dealer, guaranteed buyers' obligations under conditional sales agreements assigned to Mack Trucks. When buyers defaulted, Mack repossessed and sold the trucks, then sued S&W for deficiencies. The court held that while the guaranty permitted repossession and sa
• Wishart v. The Gates Rubber Co. Sales Div., Inc.
  163 So. 2d 503· Fla. 3d DCA· 1964-04-21 ·cited 7×
  Wishart, an officer and guarantor of Gene Mann Tire Service, appeals a directed verdict holding him jointly and severally liable for the corporation's debt to Gates Rubber Company. The court affirmed, finding no genuine factual disputes regarding either the credit limit defense o
• Regions Bank v. BIG Bend Inv. Grp. of Fla., LLC
  311 So. 3d 181· Fla. 2d DCA· 2020-07-24 ·cited 6×
  This case involves a bank's attempt to collect on a loan. After years of litigation, the guarantors sought to vacate a final judgment, arguing they were denied due process. The appellate court reversed the lower court's decision to vacate the judgment, finding that the judgment w
• Fence Wholesalers OF Am., Inc. v. Beneficial Commercial Corp.
  465 So. 2d 570· Fla. 4th DCA· 1985-03-13 ·cited 6×
  Fence Wholesalers and its individual guarantors appealed judgments for unpaid lease payments on a truck tractor after the lessor repossessed the vehicle and sold it privately. The court affirmed the lessor's right to recover remaining rent payments under the lease despite reposse
• In re Johnson v. McLEAN Bank
  552 F.2d 1072· 4th Cir.· 1977-04-05 ·cited 6×
  The court held that the bank could set off its claim against the bankrupt's estate, even though the claim arose from a separate transaction and the bankrupt's obligation on the notes was not yet due, because the debts were mutual and insolvency justified the set-off.
• De Stubner v. United Carbon Co.
  163 F.2d 735· 4th Cir.· 1947-09-25 ·cited 6×
  The court held that the license agreements were limited to the art of pigment dispersion and did not cover processes for the production of dustless carbon black, and that the defendants' dustless carbon black patents were developed independently of the plaintiff's disclosures.
• Toyota Tsusho Am., Inc. v. Crittenden
  732 So. 2d 472· Fla. 5th DCA· 1999-05-21 ·cited 5×
  In this breach of contract action arising from a global settlement agreement in a citrus business transaction, Toyota Tsusho America appeals a trial court judgment, and the appellees cross-appeal. The court reverses the trial court on two issues: the allocation of liquidated coll