[Defaulted Loan] Bruce Wanted to Open His Own Restaurant, the Burger

question 10

Multiple Choice

[Defaulted Loan] Bruce wanted to open his own restaurant, The Burger Bar, and called his friend Janet for a loan. Janet orally agreed to loan Bruce $200,000. The agreement was not put into writing. Two years later, the loan was never repaid and is in default. The Burger Bar is bankrupt and Janet decides to sue Bruce in his individual capacity.
-If the reasoning of the case in the text, Athanasios Valsamis v. Néstor González-Romero is followed, what would Janet have to prove in court?

• A) Janet does not have to prove anything, as the burden would shift to Bruce to prove an agreement did not exist.
• B) Janet must prove money is due and Bruce is the responsible party.
• C) Janet must prove money is due.
• D) Janet must prove The Burger Bar is the responsible party.
• E) Janet must prove money is due and The Burger Bar is the responsible party.

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Political Economy

The study of how political factors influence economic systems and the distribution of wealth and resources.

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