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Case Citations [i] (July 2016 through April 2017)

handle is hein.ali/relwsec0585 and id is 1 raw text is: 





                                        SECURITY





                                    DIVISION   II. SURETYSHIP

                             CHAPTER 5. SURETY AND CREDITOR

  § 128. Modification of Principal's Duty

  Ct.Int'l Trade, 2015. Cit. in sup. In consolidated actions, the United States, on behalf of the United
  States Customs and Border Protection Agency, sought to recover on customs bonds issued by surety to
  secure unpaid duties on garlic, mushrooms, and potassium permanganate imported into the United States
  from China. This court denied in part the parties' cross-motions for summary judgment, holding that
  questions of fact remained as to whether defendant was prejudiced by plaintiff s failure to provide
  statutorily required notice to surety that liquidation of imported merchandise had been suspended. The
  court cited Restatement of Security § 128 in support of the proposition that, generally, under insurance
  law, if a surety was prejudiced by the actions of the insured, then the contract of insurance could be
  voided in whole or in part. United States v. American Home Assurance Company, 151 F.Supp.3d 1328,
  1350.

  § 141. Subrogation

  D.Mass.Bkrtcy.Ct.2016.  Subsec. (d) cit. and quot. in sup., cit. in case cit. in sup. Creditor objected to a
  confirmation of debtors' Chapter 13 bankruptcy plan, alleging that the plan failed to treat as secured
  creditor's claim, which was based on a debt that he paid in full to lender for which both he and debtors
  were guarantors. This court sustained creditor's objection, holding that creditor was subrogated to the
  lender's position against debtors. The court relied on caselaw that cited Restatement of Security § 141
  and Restatement Third of Suretyship and Guaranty § 28 in support of its determination that a guarantor
  was allowed to proceed against a coguarantor on the basis of subrogation. In re Morrison, 555 B.R. 92,
  95, 96.


















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

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