Offender Ronald J. Ramos appeals a judgment after the trial judge led a decision and only plaintiff Family Government Offers & Mortgage Organization (Family Government) out-of Ramos’s responsibility for the a consumer loan warranty. We affirm.
Thomas Lynn, a major financing administrator to possess Household Government, negotiated the newest agreement with Brooks and you can wishing about three data-the mortgage amendment agreement, brand new promissory note while the [229 Cal
Offender Ramos is actually chairman of your own Ramos/Jensen Company (R/J Co.), a california corporation. R/J Co. is actually the overall mate regarding a limited union, brand new Peacock Ridge Organization (Peacock), molded to do the fresh new Peacock Ridge design enterprise. Ranging from Sep 1983 and you can February 1985, plaintiff Family Federal loaned nearly $eight.4 billion into the Peacock relationship. Each of the four operating Mccoy loans system.
At that point, Peacock owed large amounts in accumulated attract and had other loans regarding the your panels. Household Government approved a great «work-out agreement» in which they forgave all but $one hundred,000 of the interest and you can offered to mortgage Peacock an additional $fifty,000. Inturn, Peacock promised to execute an excellent promissory note to own $150,one hundred thousand protected by the your own guarantee finalized from the Ramos.
The brand new exercise agreement is actually negotiated with respect to Peacock by Arthur Brooks, an R/J Co. staff member. App. three-dimensional 1612] individual warranty-that he delivered to Brooks with regards to acquiring Ramos’s trademark. Brooks returned all the about three finalized data to help you Lynn to your December 18, 1986.fn. 1
This new promissory note offered a signature line to own «Ronald J. Ramos, President» out-of R/J Co. as general lover out of Peacock. Ramos signed new document «Roentgen.J.