The distinction between sureties and guarantors is hereby abolished. The terms and their derivatives, wherever used in this code or in any other statute or law of this state now in force or hereafter enacted, shall have the same meaning as defined in this section. A surety or guarantor is one who promises to answer for the debt, default, or miscarriage of another, or hypothecates property as security therefor. Guaranties of collection and continuing guaranties are forms of suretyship obligations, and except in so far as necessary in order to give effect to
provisions specially relating thereto, shall be subject to all provisions of law relating to suretyships in general. A letter of credit is not a form of suretyship obligation. For purposes of this section, the term “letter of credit” means a “letter of credit” as defined in paragraph (10) of subdivision (a) of Section 5102 of the Commercial Code whether or not the engagement is governed by Division 5 (commencing with Section 5101) of the Commercial Code.
Notes of Decisions
W. Sec. Bank v. Superior Court, 933 P.2d 507 (Cal. 1997).
· cites it 6× “1612 amended two code sections (§ 5114, Civ. Code, § 2787) and added two sections to the Code of Civil Procedure (§§ 580.”
Cates Constr., Inc. v. Talbot Partners, 980 P.2d 407 (Cal. 1999).
· cites it 4× “Finally, the court found sufficient evidence of malice and oppression to support punitive damages, but reduced the awarded amount to $15 million on federal due process grounds.”
Morgan Creek Residential v. Kemp, 63 U.C.C. Rep. Serv. 2d (West) 507 (Cal. Ct. App. 2007).
· cites it 4× “” The California Supreme Court has said: “Generally, a surety’s liability for an obligation is secondary to, and derivative of, the liability of the principal for that obligation.”
Gray1 CPB, LLC v. Kolokotronis, 202 Cal. App. 4th 480 (Cal. Ct. App. 2011).
· cites it 4× “Guarantor waives all of Guarantor’s rights of subrogation, reimbursement, indemnification, and contribution, and any other rights and defenses that are or may become available to Guarantor by reason of any or all of California Civil Code sections 2787 to 2855, inclusive,…”
In Re Flamingo 55, Inc., 378 B.R. 893 (Bankr. D. Nev. 2007).
· cites it 3× “Subrogation and California Civil Code §§ 2787 and 2848-49 As originally filed, Grantham and Saba cited Sections 2787 and 2848-49 of California’s Civil Code as authority for their right to subrogate to Datacom’s claim.”
Cal. Bank & Trust v. Lawlor CA4/3, 222 Cal. App. 4th 625 (Cal. Ct. App. 2013).
· cites it 2× “) Indeed, Civil Code section 2787 defines a guarantor as “one who promises to answer for the debt, default, or miscarriage of another .”
Component Sys. Corp. v. Eighth Jud. Dist. Court, 692 P.2d 1296 (Nev. 1985).
· cites it 5× “The court noted that, although this traditional distinction remained in force in Nevada, it had been abolished, pursuant to Cal. Civ. Code § 2787 , in California. The instant case is the negative of the Coombs and Barengo cases.”
Mead v. Sanwa Bank California, 98 Cal. Daily Op. Serv. 1100 (Cal. Ct. App. 1998).
· cites it 2× “” (Civ. Code, § 2787.) Those promises may be made in an express agreement or may be implied by law.”
Talbott v. Hustwit, 164 Cal. App. 4th 148 (Cal. Ct. App. 2008).
· cites it 2× “" The Hustwits contend section 580a applied to them, and the trial court erred in failing to consider evidence that the property's fair market value exceeded the total amount owed Talbott. We disagree. (2) The Hustwits were held liable as guarantors of the Trust's loan…”
G & W Warren's, Inc. v. Dabney, 11 Cal. App. 5th 565 (Cal. Ct. App. 2017).
“e (1) the goodwill of the business that was referenced in section 2 of the Agreement included amounts that were allocated in the sale to payments under the noncompete and consulting agreements; (2) the Agreement adopted and incorporated by reference all instruments signed in…”
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