Law360, New York ( July 3, 2014, 11:25 AM EDT) -- Certain personal guaranties are not worth the paper they are written on. In November 2013, the California Court of Appeal published its opinion in California Bank & Trust v. Lawlor, 222 Cal. App. 4th 625 (2013), concerning whether a guaranty is an unenforceable sham. Lawlor is important because it is one of a handful of cases that provide guidance as to what factors are relevant to the foregoing analysis. Among other things, Lawlor holds that a guaranty is not automatically rendered a sham just because the lender requested financial information concerning a potential guarantor at the time of loan inception....
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