Opinion ID: 2380920
Heading Depth: 1
Heading Rank: 2

Heading: Construction of guaranty contracts.

Text: ¶ 8 Before looking at the precise language of the guaranty contracts, it is helpful to review the rules of construction governing such agreements. [15] Generally, the promise to stand for the debt of another is purely contractual and collateral to that of the principal debtor. [16] Intent at execution controls the meaning of the written terms [17] and the extent of the obligation is defined by the promise given. [18] Contract language is accorded its plain and ordinary meaning absent a term intended to carry a specific technical meaning. [19] ¶ 9 The parties' intent in executing a guaranty contract is gathered from the entire instrument. [20] Extrinsic evidence need not be introduced when the language is clear and explicit. [21] If the contract is complete in itself and, viewed in its entirety unambiguous, its language is the only legitimate evidence of intent. [22] The courts decide, as a matter of law, whether a contract provision is ambiguous. [23] Absent illegality, the parties are free to bargain as they see fit, and this Court will neither make a new contract or rewrite existing terms. [24] Finally, under Oklahoma law, guaranty agreements are construed most strongly against the guarantor. [25]