Lawndale Steel Co. v. Appel

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• indicating that a material change in terms in effect creates a new contract and releases the guarantor
• finding that a creditor can sue an absolute guarantor without first attempting collection from the debtor because an absolute guarantor “is liable immediately upon default of the principal, without notice”
• creditor can sue “absolute” guarantor without first attempting collection from debtor since absolute guarantor is one who has undertaken guaranty unconditionally and is thus “liable immediately upon default of the principal, without notice”
• “An absolute guaranty is an unconditional undertaking on the part of the guarantor that the person primarily obligated will pay or otherwise perform. Such guarantor is liable immediately upon default of the principal, without notice”

Source: CourtListener parenthetical corpus (CC0).