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2. Hyland's Burren Bar LLC, operated by Doug Smith, received a $400,000 loan from Fred Jones. Doug Smith, as the sole member of the LLC,

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2. Hyland's Burren Bar LLC, operated by Doug Smith, received a $400,000 loan from Fred Jones. Doug Smith, as the sole member of the LLC, signed a promissory note on behalf of the LLC that provided that Hyland's Burren Bar LLC would repay the loan in monthly installments of $10,000 over 48 months (a healthy 9.42% return). Smith also separately signed a personal guaranty. One year later, Smith filed for bankruptcy under Chapter 7 in US Bankruptcy Court in his personal capacity. Because Hyland's Burren Bar LLC was still making payments under the note as required, Smith did not list the personal guaranty among his debts. The order of discharge in Smith's personal bankruptcy was issued six months after the bankruptcy filing. When Hyland's Burren Bar LLC defaulted on the note six months after the order of discharge, Fred Jones sued Smith for payment under the guaranty. Smith moved for summary judgment, asserting that the claim of Fred Jones had been discharged in Smith's personal bankruptcy. Case Study Were the obligations under the personal guaranty discharged in Smith's Chapter 7 bankruptcy? Why or why not

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