bank_of_idaho_v_west[1]

bank_of_idaho_v_west[1] - e. David Brown is liable for...

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First Interstate Bank of Idaho v. West February 25, 2010 a. The governing black letter law is the contract of a collateral promise. A contract to pay the debt of another as a favor to that debtor must be in written form. b. James West’s strongest legal defense is that it was only an oral agreement and that it cannot be enforced. It must be in writing. Also he did not sign the written agreement. c. The Bank’s strongest argument is that West is the one who has to pay for the debt because he agreed to pay for Brown’s debt. d. Based on the governing law West should win because the agreement was oral. An agreement to pay the debt of another must be in writing and it was not.
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Unformatted text preview: e. David Brown is liable for repayment of the $5,000 loan since the oral agreement cannot be enforced. The Bank didnt sue David Brown because there was an agreement that West would pay for the debt and that is who they should first go to since the Bank thought they had an agreement even though it was oral. f. If I were Stan Steele I would be worried about keeping my job because he made a mistake and he shouldve had West sign the contract in a written form. Since he made this mistake and the Bank took it to court than I would be worried that my job might be in jeopardy. g....
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