[DOWNLOAD] "Cambridgeport Savings Bank v. David" by Supreme Judicial Court of Massachusetts " eBook PDF Kindle ePub Free
eBook details
- Title: Cambridgeport Savings Bank v. David
- Author : Supreme Judicial Court of Massachusetts
- Release Date : January 14, 1992
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 77 KB
Description
At the trial of an action arising out of a written agreement between the plaintiff bank and defendants who had executed a written guaranty to secure payment in the event of a default on the bank's loan to a realty trust of which the defendants were the trustees, the defendants' evidence on their counterclaim for breach of contract was insufficient to warrant an inference, ""based on probabilities rather than possibilities,"" that the parties had reached a subsequent oral agreement to modify their written contract so as to obligate the bank to disburse loan proceeds each month in an amount sufficient to allow payment of interest. [439-442] A lender's oral promise that it would fund the interest payments on a loan on which the borrowers subsequently defaulted was not a basis for an enforceable contract, where the lender's promise engendered merely a hope or expectation on the borrowers' part, which was not equivalent to either legal detriment or reliance. [442-443]