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We conclude that the first guaranty was supported by
adequate and sufficient consideration and was enforceable.
Therefore, Appolo is not entitled to a bad debt deduction for the
Four A debt, and, accordingly, G. Asher and L. Asher are not
entitled to ordinary losses related to the bad debt deduction.
To reflect the foregoing,
Decisions will be entered
under Rule 155.
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Last modified: May 25, 2011