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Regions Bank Vs. Cabinet Works Essay

1316 words - 6 pages

Regions Bank vs. Cabinet Works, L.L.C., No. 11-CA-748, 2012 La. App. LEXIS 478 (La. Ct. App. 5th Cir., April 10, 2012)

Fact:
Plaintiff: Regions Bank (hereinafter “Regions”)
Defendants: Cabinet Works, L.L.C., Chad C. Adams and Christopher Adams (as continuing guarantors of Cabinet Works L.L.C.).
Cabinet Works, L.L.C. is a limited liability company that borrowed approximately $250,000 from Regions Bank in December, 2006 and Mr. Adams executed a guaranty in connection with the loan. In May 2008, Cabinet Works defaulted. On June 23rd, 2008, the bank sued the company, Mr. Adams and another guarantor.
While this case was pending, Mr. Adams’ attorney and Regions’ attorney had ...view middle of the document...

Costs of this appeal are assessed against Christopher Adams.

Issues:
In order to constitute an electronic signature in Louisiana, the putative signature associated with the record must be adopted by a person with intent to sign the record such that there must be a showing that the signatory intended to perform a legally significant act, so in this case, whether there was a showing that the signer intended to perform a legally significant act.

Rules and analysis:
According to Lousiana Civil Code, art. 3072, a compromise or a contract to settle litigation must satisfy all of the requirements for contract formation. Also in this Code, art. RS 9:2608 provided “ If parties have agreed to conduct a transaction by electronic means and a law requires a person to provide, send, or deliver information in writing to another person, the requirement is satisfied if the information is provided, sent, or delivered in an electronic record capable of retention by the recipient at the time of receipt.” (at A (1)); it means that an email can creat a valid compromise contract.
To make the contract become legally effective, the contract must have the signature of the parties and it must be based on the consent, intention to sign of parties. An e-signature is considered as a valid signature when it is used to verify a contract with the execution or adoption by “a person with the intent to sign the record.”
After considering the law and evidence, hearing argument of counsel, and considering the denial of Christopher Adams' exception of res judicata, the court finds that there is no genuine issues of material fact that Christopher Adams is indebted to plaintiff for amounts incurred on the Promissory Note, Limited Liability Company's Resolution to Borrow/Grant Collateral and the Continuing Guarantees, and the Security Agreement entered into between plaintiff and defendant. Christopher Adams did not contest that the note exists, that he signed it, that it contains continuing guarantee and it is secured. Christopher Adams failed to put forth any specific facts to show that genuine issues of material fact existed or that plaintiff was not entitled to judgment as a matter of law. Further, plaintiffs request for attorney fees in the amount of Sixty Thousand and 00/100 Dollars ($60,000.00) is not reasonable nor is it supported by any evidence in the record. The court finds that a conservative and appropriate award based on the record would be in the amount of Ten Thousand Dollars and 00/100 ($10,000.00) in attorney fees.
The court concluded that their e-mail exchange did not create a compromise contract for four reasons.
First, the terms of the settlement had not been fixed by the time of the alleged compromise.
Second, Regions’ attorney wrote that any settlement would need to be finalized by December 31, 2008 or Regions would not accept it...

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