Household Government Coupons & Loan Assn. v. Ramos (1991)
Defendant Ronald J. Ramos appeals a judgment following the demonstration court led a verdict in support of plaintiff Domestic Government Coupons & Mortgage Relationship (Household Government) out of Ramos’s accountability towards the a personal loan warranty. I affirm.
Thomas Lynn, a major loan officer for Domestic Federal, discussed new arrangement that have Brooks and you will waiting about three data files-the borrowed funds amendment arrangement, brand new promissory note together with [229 Cal
Defendant Ramos is actually chairman of one’s Ramos/Jensen Business (R/J Co.), a ca organization. R/J Co. is actually the entire mate off a finite commitment, the fresh Peacock Ridge Organization (Peacock), designed to complete the fresh Peacock Ridge structure opportunity. Anywhere between Sep 1983 and you will March 1985, plaintiff Home Federal loaned almost $7.4 million into Peacock relationship. All the five os.
At that time, Peacock owed large figures inside accumulated focus and had almost every other financial obligation in connection with the project. House Federal acknowledged an effective “work out contract” where they forgave just about $a hundred,100000 of desire and you may agreed to mortgage Peacock an additional $fifty,000. (more…)