Legal Articles

Oral Agreements to Modify, Postpone Debt Payments

Often times there are apparent attempts to modify loan agreements (e.g., promissory notes, repayment contracts, purchase agreements, etc.) orally. This is especially true with promissory notes or mortgages when the debtor/paying party requests more time to make payments. In Missouri, however, oral modifications to credit agreements are not valid unless they are in writing. Section…

Equitable Estoppel

Estoppel is an equitable legal theory that is almost always injected into a lawsuit as a defense, though it is possible to see a plaintiff use it. While the law disfavors estoppel, Stenger v. Great Southern Sav. and Loan Ass’n, 677 S.W.2d 376, 383 (Mo. Ct. App. 1984), it exists to maintain consistency and honesty in…

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