Lieu of the original note and guaranty agreement

Assignment Help Financial Management

Reference no: EM131936615

Robert borrowed $900k on behalf of his company, RRR&G. A Robert signed a promissory note payable to Farmers Bank of Delaware on behalf of the corporation and as a personal guarantor. A Farmers Bank had financial difficulty, and as a result it sold many of its notes to the FDIC. A Among these notes purchased by the FDIC was the RRR&G note, which was guaranteed by Robert. A RRR&G filed for bankruptcy, and the FDIC sued Robert personally for payment of the $900k owed. A The FDIC presented photocopies of the promissory note and personal guaranty. A Robert objected to these copies being admitted as evidence, since they were not the original notes. A Should the photocopies be admitted into evidence in lieu of the original note and guaranty agreement? A Why?

Reference no: EM131936615

Questions Cloud

What was the correct overall change in the net position : What was the correct change in the net position of the Enterprise Fund on the fund financial statements?

Satisfy required rate of return : How much will the stock price have to appreciate for you to satisfy your required rate of return of 16 ?percent?

What was the intrinsic value per share of the options : What was the intrinsic value per share of the options exercised in 2008? (Hint: Assume that Intel grants options at-the-money.)

How much will susan stock be worth : How much will Susan's stock be worth if she sells it five years from today? Hint: your Rate of Return formula can be rewritten to solve for Ending Price

Lieu of the original note and guaranty agreement : A Should the photocopies be admitted into evidence in lieu of the original note and guaranty agreement?

Determine proposal appropriateness and economic viability : A company wants to build a new factory for increased capacity. Using the Net Present Value (NPV) method of capital budgeting, determine the proposal's.

What is the accumulated value of her rrsp account : What is the accumulated value of her RRSP account on August 1, 2005, if interest is 10.44% compounded quarterly?

What will be the value of pssss quick ratio : With total assets of $20 million, noncurrent assets of $2 million, and current liabilities of $4 million, what will be the value of PSSS's quick ratio?

What is the size of that single payment : What is the size of that single payment if interest is 7.5% compounded monthly?

User Account

All Pages