Question
1.Wilcox Manufacturing Group, Inc. did business under the name of Superior Automation Co., and Howard Wilcox served as Superior's president. As part of a loan
1.Wilcox Manufacturing Group, Inc. did business under the name of Superior Automation Co., and Howard Wilcox served as Superior's president. As part of a loan "lease agreement" of $50,000 executed on December 5, 2000, Superior was to repay Marketing Services of Indiana (MSI) $67,213.80 over the course of 60 months. Wilcox gave a personal guarantee for full and prompt payment. Wilcox had been a patient of psychiatrist Dr. Shaun Wood since May 21, 1999, and was diagnosed as suffering from bipolar disorder during the period from June 2000 to January 2001. On June 9, 2000, Wilcox told Dr. Wood he was having problems functioning at work, and Dr. Wood determined that Wilcox was experiencing lithium toxicity, which lasted for 10 months, during which time he suffered from im-paired cognitive functions that limited his capacity to understand the nature and quality of his actions and judgments. Superior made monthly payments through to October 28, 2003, and the balance owed at that time was $33,031.37. MSI sued Wilcox personally and the corporation for breach of contract. The defendants raised the defense of lack of capacity and contended that they were not liable on the loan signed by the corporate president when he was incapacitated. Decide. [Wilcox Manufacturing, Inc. v. Marketing Services of Indiana, Inc. 832 N.E.2d 559 (Ind. App.)]
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