Brief First State Bank v. Hyland

Brief First State Bank v. Hyland - Cameron Hartman 10/06/09...

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Unformatted text preview: Cameron Hartman 10/06/09 Seat # 59 FIRST STATE BANK OF SINAI v. HYLAND Facts: On March 10, 1981, Randy Hyland and William Buck, acting for the bank, executed two promissory notes that were combined as one note worth $9,800, due September 19, 1981. On the due date, the notes were unpaid, so Randy requested an extension. Buck accepted this on the condition that Randy’s dad, Mervin, cosigned it. Mervin, who was apparently a good customer, signed the note in Buck’s presence. The note was still unpaid on the next due date, so Randy brought in a check signed by Mervin for the interest due. Randy requested another extension, but he could not secure his dad’s signature and he committed bankruptcy, which discharged the obligation on the note. Then, Buck filed suit against Mervin, requesting the full payment. Mervin refused payment and stated that he was drunk when he signed the note, and payment....
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This note was uploaded on 09/17/2011 for the course BLAW 300 taught by Professor King during the Spring '11 term at University of Phoenix.

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