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Moana loaned $300,000 to Te Fiti, Inc. Tamatoa, president of Te Fiti, signed a promissory note providing that the corporation would pay the principal with

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Moana loaned $300,000 to Te Fiti, Inc. Tamatoa, president of Te Fiti, signed a promissory note providing that the corporation would pay the principal with interest over a 10 year period beginning in 2005 and ending in 2015. Tamatoa signed a personal guarantee for the note. Te Fiti defaulted on the note, so Moana sued Tamatoa for payment under the guarantee. Tamatoa moved for dismissal based upon the fact that Moana's claim against him has been discharged in his prior Chapter 7 bankruptcy. The bankruptcy case was filed after the promissory note was signed, but before Te Fiti defaulted. The guarantee was not listed among Tamatoa's debts in the bankruptcy. Instructions: . Consider the above fact situation and then discuss whether Tamatoa's obligation under the guarantee was discharged. Explain why

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