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Case Citations July 2015 through February 2016 [1] (2015-2016)

handle is hein.ali/retsgy0583 and id is 1 raw text is: SURETYSHIP AND GUARANTY 3D CHAPTER 1. TRANSACTIONS GOVERNED BY LAW OF SURETYSHIP AND GUARANTY § 1. Scope; Transactions Giving Rise to Suretyship Status C.A.8, 2014. Com. (d) quot. in ftn. Biotechnology company sued federally licensed warehouse operator under the United States Warehouse Act, alleging, among other things, that defendant's decision to stop accepting com grown from plaintiff's genetically modified com seed violated defendant's bonded obligation under the Act to treat depositors of agricultural products fairly. The district court granted defendant's motion for judgment on the pleadings as to plaintiff's claim under the Act. Affirming that portion of the decision, this court held, among other things, that the Act did not expressly authorize plaintiff to sue defendant for alleged violations of the Act. The court reasoned that there was nothing in the text or legislative history of the Act to indicate that Congress intended to authorize injured third parties to sue a breaching warehouse operator directly rather than the surety, citing Restatement Third of Suretyship and Guaranty § 71, which provided that license bonds, in most cases, provided that private persons hanned by the lack of faithful performance by the licensee had an action against the surety or secondary obligor on the bond. The court noted that § 1 used the term secondary obligor in place of the term surety. Syngenta Seeds, Inc. v. Bunge North America, Inc., 773 F.3d 58, 63. Vt.2014. Com. (b) cit. in ftn. Lender brought an action against attorney and attorney's firm, alleging that plaintiff relied on defendants' negligent and intentional misrepresentations that a guaranty agreement between defendants' client and plaintiff remained in effect and that client had revoked and rescinded an earlier termination notice of the guaranty. The trial court granted defendants' motion for summary judgment. Reversing and remanding, this court held that there were genuine issues of material fact that precluded summary judgment concerning how defendants' letter affected the guaranty. Citing Restatement Third of Suretyship and Guaranty § 1, Comment b, the court pointed out that a guarantor typically contracted to fulfill an obligation upon the default of the principal obligor, and, in this case, the guaranty agreement was established in an executed contract. Choiniere v. Marshall, 112 A.3d 723, 729. § 2. Contract Creating the Secondary Obligation Vt.2014. Com. (a) quot. in ftn. Lender brought an action against attorney and attorney's firm, alleging that plaintiff relied on defendants' negligent and intentional misrepresentations that a guaranty agreement between defendants' client and plaintiff remained in effect and that client had revoked and rescinded an earlier termination notice of the guaranty. The trial court granted defendants' motion for summary judgment. Reversing and remanding, this court held that there were genuine issues of material fact that precluded summary judgment concerning how defendants' letter affected the guaranty. Citing Restatement Third of Suretyship and Guaranty § 2, Comment a, the court pointed out that the undertaking of the guarantor or secondary obligor was a contractual obligation, and, in this case, the guaranty agreement was established in an executed contract. Choiniere v. Marshall, 112 A.3d 723, 729. Ass l For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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