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1 Case Citations (March 2016 through June 2016) [i] (2016)

handle is hein.ali/relwsec0584 and id is 1 raw text is: 





                                        SECURITY





                                    DIVISION   II. SURETYSHIP

                             CHAPTER 5. SURETY AND CREDITOR

  § 133. Surety's Set-Off

  Ariz.App.2015. Cit. in ftn., cit. in case cit. in ftn. After borrower was unable to repay a construction
  loan because lender withdrew from an agreement to finance the remaining portion of the construction,
  lender brought an action against guarantors, seeking payment of the balance owed; defendants
  counterclaimed that plaintiff had breached the implied covenant of good faith and fair dealing by
  unilaterally terminating its obligation to extend financing for the remaining portion of the construction.
  The trial court entered judgment for defendants. This court affirmed, holding that the trial court did not
  err in finding that defendants stated a viable counterclaim. The court pointed out that the trial court had
  determined that, under Restatement of Security § 133, defendants were entitled to pursue an offset for
  the amount of any of borrower's claims against plaintiff. Great Western Bank v. LJC Development,
  LLC, 238 Ariz. 470, 477, 362 P.3d 1037, 1044.






























ALI
m   w        For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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