Go to Extended Case 28.2, Overseas Private Investment Corp. v. Kim, 69 A.D.3d 1185, 895 N.Y.S.2d 217 (2010)

on pages 551–552. Read the excerpt and answer the following questions.

(a) The main issue concerned the enforceability of a guaranty agreement. Who was arguing that the agreement should not be enforced, and on what grounds?

(b) What are the requirements for a guaranty agreement to be enforceable?

(c) How did the court apply the rule of law to the guaranty agreement in this case?

(d) After applying the rule of law, what did the court conclude? Who benefited from the court’s decision, the plaintiff or the defendants?