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Case Citations [1] (Spring 2024)

handle is hein.ali/relwsec0595 and id is 1 raw text is: THE AMERICAN LI LAW NS TITUTE Spring 2024 Citations SECURITY DIVISION II. SURETYSHIP CHAPTER 3. NATURE AND CREATION OF SURETYSHIP § 88. Interpretation of Contract of a Surety I11.App.2023. Cit. in case quot. in sup. Assignee of borrower's second promissory note sued guarantor who executed a guaranty in favor of lender as a security on borrower's original note, alleging that guarantor owed assignee payments under the guaranty, because borrower defaulted on the second note. The trial court granted assignee's motion for summary judgment. This court affirmed, holding, inter alia,w that the guaranty executed by guarantor was a continuing guaranty for all indebtedness incurred by borrower. The court cited Restatement of Security § 88 in explaining that the guaranty contract established that the parties contemplated a future course of dealing, because it stated that guarantor remained responsible for borrower's indebtedness on a continuing basis until all of borrower's indebtedness had been paid in full. Amos Financial, LLC v. Szydlowski, 214 N.E.3d 158, 167. COPYRIGHT (2024 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination. I