Court Opinion

ID: 9596180
Source: CourtListenerOpinion
Date Created: 2023-08-22 00:46:54.78244+00
Date Added: 2024-06-11T18:01:33.015633
License: Public Domain

Felton, Chief Judge,
concurring specially. I concur in the judgment and in all that is said in the opinion except that under the terms of the guaranty agreement it is my opinion that one guarantor could not, under the terms of the agreement, revoke the whole agreement. There was no provision for the revocation of part of the agreement by one guarantor. The provision of the guaranty agreement upon which the plea of estoppel is based is as follows: “This is a continuing agreement and shall remain in force until a written notice revoking it has been received by the bank; but such revocation shall not release the undersigned *771from liability for any and all obligations of the principal (as hereinbefore defined) then in existence, or from any renewals or extensions thereof, in whole or in part, and whether such renewals or extensions are made before or after such revocation.” (Emphasis supplied.) The above agreement only provides for the revocation of the entire guaranty agreement and contemplates a revocation as to all signers of the agreement because the agreement is one unit including the terms of the instrument and all signers thereof. The agreement does not mean that one guarantor may revoke it as to his obligations alone. The revocation provided for is of the whole instrument including a revocation of the instrument as to all guarantors signing the instrument. Both the plea of estoppel and the supporting evidence fail to show that there is a genuine issue of fact for the reason that there is no showing that the entire instrument of guaranty, which would be required to release Haynie, would have been revoked, or should have been, by the mere unilateral attempted revocation by Haynie alone.