Robert borrowed $900,000 on behalf of his company, RRR&G, Inc. Robert signed a p
ID: 1149139 • Letter: R
Question
Robert borrowed $900,000 on behalf of his company, RRR&G, Inc. Robert signed a promissory note payable to Farmers Bank of Delaware on behalf of the corporation and as a personal guarantor. Farmers Bank had financial difficulty, ad as a result it sold many of its notes to the FDIC. Among these notes purchased by the FDIC was the RRR&G note, which was guaranteed by Robert. RRR&G filed for bankruptcy, and the FDIC sued Robert personally for payment of the $900,000 owed. The FDIC presented photocopies of the promissory note and personal guaranty. Robert objected to these copies being admitted as evidence, since they were not the orignal notes. Should the photocopies be admitted into evidence in lieu of the original note and guranty agreement? Why?
Explanation / Answer
Yes, in US there is a principle of best evidence rule.
That is, if in case the original contract is not available, then its photo or photocopy can serve its equal purpose and can be accepted as original, untill and unless the original is present in which case the original will be accepted.
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