Wall Street Management & Capital, Inc. v. Crites

Summarized by:

  • Court: Oregon Court of Appeals
  • Area(s) of Law: Contract Law
  • Date Filed: 10-14-2015
  • Case #: A151512
  • Judge(s)/Court Below: Haddock, J. for the Court; Sercombe, P.J.; & Tookey, J.
  • Full Text Opinion

"Where a guarantor signs a guaranty outside the creditor's presence and without having first received a direct request from the creditor asking that the guarantor do so, the guarantor has merely made an offer to the credit to form a contract" and acceptance by the creditor would be necessary to form a contract.

The financial management company in this case (Company) brought action against a father for failure to pay his son's loans in accordance with a guarantee the company suggested the father had signed. The trial court granted summary judgment in favor of the father on the grounds that there was no credible evidence that the father had signed the guarantee. The Court held that summary judgment in favor of the father was inappropriate because there was evidence that could lead a reasonable juror to find that the signature on the guaranty was the father's and the alternative offer and acceptance argument has issues of fact present as well. Reversed and remanded.

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