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Case Citations [i] (Fall 2023)

handle is hein.ali/relwsec0594 and id is 1 raw text is: THE AMERICAN LAW INSTITUTE Fall 2023 Citations SECURITY DIVISION II. SURETYSHIP CHAPTER 3. NATURE AND CREATION OF SURETYSHIP § 83. Creation of Suretyship N.D.Ga.Bkrtcy.Ct.2022. Subsec. (c) and com. (e) cit. in case quot. in sup. In bankruptcy proceedings for five related debtors that were jointly liable to bank as guarantors of a series of loans, debtor that was ordered to sell its property to satisfy the debt sought contribution from another debtor that did not pay any portion of the debt, the amount of which would fix the amount of an adequate protection lien that the bankruptcy court had awarded to creditor that had a lien on the property. After a bench trial, this court held, among other things, that plaintiff was entitled to contribution from defendant, and that the amount of the contribution claim had to be divided among the five debtors. The court rejected plaintiff's argument that certain pledgors that had helped secure the loans by pledging their interests in certain properties as collateral were also liable for contribution, reasoning that the pledgors' liability was limited to their interests in the properties under Restatement of Security § 83 and Restatement Third of Suretyship & Guaranty § 2. In re Bay Circle Properties, LLC, 646 B.R. 348, 368. § 93. Promise, the Consideration of Which Is Desired for the Promisor's Advantage N.J.Super.2021. Subsec. (1) quot. in sup. Medical provider sued 24-year-old patient, who was a named adult child dependent on his father's health-insurance policy, and patient's mother and father, seeking unreimbursed medical expenses incurred by patient under a theory that mother orally guaranteed payment of unreimbursed expenses when she was in the emergency room with patient. This court granted summary judgment for parents, holding that mother's oral representation was unenforceable under the Statute of Frauds. The court noted that the leading object exception to the Statute of Frauds described in Restatement of Security § 93 did not apply, because no evidence indicated that mother received any pecuniary or financial benefit as a result of the alleged promise. Atlantic Plastic & Hand Surgery, P.A. v. Ralling, 286 A.3d 1210, 1213. CHAPTER 6. COSURETYSHIP AND SUBSURETYSHIP § 154. Computation of Contribution COPYRIGHT C2023 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.

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