Promissory notes are a common legal instrument used in connection with the lending and borrowing of money. They are typically “black and white” cases when it comes to enforcement when there is a breach. To make a prima facie case on breach of promissory note, there needs to be a showing that the (1) maker(s)…
Legal Articles
Guarantees: Interpretation, Breach
Personal guarantees or guarantees by another business are commonly required by lenders to provide additional safeguards for a loan. In litigation, the same rules that apply to contract interpretation apply to guaranty interpretation. Royal Banks of Mo v. Fridkin, 819 S.W.2d 359, 361 (Mo. 1991). Specifically, the language of the guaranty is to be understood in…