LEGAL%BRIEF%OF%CASE%13–5%%%
!
Vinueza%v.%Scotto,%30%Misc%.%3d%1229,%924%N.Y.S.%2d%312%(1%Dist.%2011)%
!
Summary%of%key%facts:%
!
Mr.!Michael!Scotto!borrowed!funds!of!$2,970!from!Cindy!Vinueza.!Mr.!Scotto,!the!borrower,!agreed!and!
signed!a!promissory!note!dated!September!26,!2009,!to!repay!Ms.!Vinueza,!the!lender,!and!the!amount!
of!$!2,!970.!!Parties,!Michael!Scotto,!and!Cindy!Vinueza!willingly!endorsed!the!promissory!note.!!More!
than!a!year!later,!Ms.!Vinueza!files!a!lawsuit!against!Mr.!Scotto!because!he!failed!to!repay!the!amount.!!
The!defendant!Mr.!Scotto!admits!he!borrowed!the!sum!of!$2,970!from!Ms.!Vinueza!and!contended,!
without!proof,!that!he!paid!Ms.!Vinueza!the!full!amount.!
!
!
The%Issue:!Is!Michael!Scotto!bind!by!the!promissory!note!he!signed!and!dated?!!
!
The%Holding:%
!
Cindy!Vinueza!in!good!faith!granted!a!loan!to!Michael!Scotto!for!the!fixed!amount!of!$2,970!with!the!
condition!of!repayment.!!Ms.!Vinueza!trusted!that!Mr.!Scotto!would!honor!the!agreement!“note”!he!
voluntarily!signed!and!dated.!Because!there!was!no!definite!date!of!repayment,!Scotto!required!paying!
on!demand.!!Ms.!Vinueza!gave!Mr.!Scotto!ample!time!to!repay!the!funds!he!owed!to!her;!he!neglected!
to!do!so.!!According!to!UCC!3–103,!“for!an!instrument!to!be!negotiable,!it!must!be!signed!by!the!maker”,!
therefore,!Scotto!is!liable!to!repay!the!borrowed!funds!to!Ms.!Vinueza.!!Additionally,!Mr.!Scotto!stated!in!
the!promissory!note,!“!that!he!borrowed!the!funds!and!agreed!to!pay!in!full.”!