Opinion ID: 2117893
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Heading: Prefatorily it is understood:

Text: In a law action tried to the court as here, our review is not de novo but only on errors assigned. Under this limited extent of review the findings of fact by the trial court have the effect of a special verdict and are equivalent to a jury verdict. If supported by substantial evidence and justified as a matter of law, the judgment will not be disturbed on appeal. Rule 344(f) (1). R.C.P. Stated in other words, in a law action tried to the court its findings of fact having adequate evidentiary support shall not be set aside unless induced by an erroneous view of law. It follows, the rule does not preclude inquiry into the question whether, conceding the truth of a finding of fact, the trial court applied erroneous rules of law which materially affect the decision. Alsco Iowa, Inc. v. Jackson, 254 Iowa 837, 840, 118 N.W.2d 565, 567; France v. Benter, 256 Iowa 534, 536, 128 N.W.2d 268, 270. We may also interfere when such findings are undisputed or no conflicting inferences may be drawn from them. Beneficial Finance Company of Waterloo v. Lamos, 179 N.W.2d 573, 578 (Iowa). II. The instrument upon which plaintiff now seeks to recover is not limited to a single transaction but rather contemplates a future course of dealing, for an indefinite period of time, in a fixed or limited amount, executed by the guarantor for benefit of her husband, and addressed to plaintiff as sole obligee. It thus appears we have at hand a continuing accommodation special guaranty. See West Branch State Bank v. Farmers Union Exchange, 221 Iowa 1382, 1385, 268 N.W. 155; Fisk & Co. v. Rickel, 108 Iowa 370, 371, 79 N. W. 120; 38 C.J.S. Guaranty §§ 7, 54; 38 Am.Jur.2d, Guaranty, §§ 23, 29. It may also be generally characterized as an aleatory contract. 3A Corbin on Contracts, §§ 728, 732. III. Such an instrument remains effective until revoked by the guarantor, or some rule of law, except as to any past transactions, which have served to create a contractual relationship between guarantor and guarantee. See 1 Corbin on Contracts, §§ 38-41, 76; 38 Am.Jur.2d, Guaranty, § 63. In other words it is a revocable offer of guaranty, effective only on a legally valid acceptance thereof prior to any revocation.