- 7 - Nevada and (2) once judgment was obtained against petitioner, Caesar’s would then have the judgment enforced against him by the courts of his home State. It was Caesar’s usual practice to proceed in this manner in the event a lawsuit was instituted against a debtor. A letter dated May 5, 1988, from Caesar’s account representative to petitioner stated that the casino would accept a lump sum settlement of $142,000 in payment of petitioner’s account, provided payment was made prior to June 5, 1988. Petitioner and the casino continued to negotiate a settlement after that offer. Petitioner subsequently signed an allowance receipt that was received by Caesar’s on July 18, 1988, that requested $255,000 be written off his account balance to induce him to make payment on the account. In accordance with an agreement between Caesar’s and petitioner, petitioner paid Caesar’s $100,000 by check dated June 29, 1988, that was received by the casino on September 2, 1988. Caesar’s wrote off the $255,000 balance of petitioner’s account in September 1988 and noted in its records that (1) no attempt should be made to collect that amount should petitioner return to the casino to gamble and (2) no credit would be extended to petitioner in the future due to the settlement. Petitioner retained no records of his contacts with Caesar’s concerning the repayment of his debts to the casino.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011