Gold signed a promissory note payable to her stepfather as evidence of a loan from him and from her mother. When she did not pay the amount due on the note and her stepfather sued her for the balance due, Gold claimed that her mother had canceled the obligation. There was proof that her mother had in fact orally canceled the note. Must Gold pay the balance due?
Answer to relevant QuestionsCurran bought a new car from Superior Motors. He paid $ 1,000 in cash and gave a promissory note for the balance of the purchase price. Superior negotiated the note to Calumet Bank and received cash in return. Curran then ...Sampson’s name appeared as a maker of a $ 500 note. On the due date, Robbins, an HIDC, presented the note to Sampson for payment. Sampson proved the signature to be a forgery and refused to pay. Can Robbins legally collect ...Locke gave a promissory note to Consumer Foods, Inc. The note read, in part, “ Buyer agrees to pay to Seller.” Consumer Foods assigned the note to Aetna Acceptance Corporation. When the note wasn’t paid and Aetna ...Marcus purchased a one- week package deal to a summer resort area through a travel agency. Because the price had to be paid in advance, Marcus sent the travel agency a certified check for $ 900 drawn on the Citizens National ...Kendall Yacht Corporation was running into financial problems. Its owners, Lawrence and Linda Kendall, obtained permission from its bank, United California, with which it had corporate accounts, to write overdrafts from this ...
Post your question