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Petitioner’s intent to repay is further supported by the
amended agreement and the accompanying promissory note. The
amended agreement emphasized petitioner’s obligation to repay the
sums advanced to him as guarantee payments and called the
guarantee payments a “loan”. The amended agreement’s purpose was
to enforce repayment by requiring petitioner to execute the
promissory note in the amount due--the excess of the amount of
the guarantee payments made over the portion of those payments
that petitioner had repaid to the hospital. As a result,
petitioner executed the promissory note for the amount due to the
hospital.
Further, petitioner’s intent to repay was reflected in the
correspondence between petitioner and the hospital after
petitioner ended his practice in the Springfield area. The
correspondence stated that petitioner proposed to assign his
accounts receivable to pay off the remaining balance of the
promissory note and then make arrangements to pay the outstanding
balance. If petitioner had not intended to repay the balance of
the promissory note, petitioner would not have made any
arrangements with the hospital.
Additionally, the hospital’s intent to enforce repayment by
petitioner is reflected in other stipulated documents. For
example, the parties stipulated journal entries titled “Jesse
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Last modified: May 25, 2011