Kelso Oil v. East West Truck Stop
This appeal centers on an Unconditional Guaranty signed by Frank Webb, president and owner of East West Truck Stop, Inc., guaranteeing the company's debt to Kelso Oil Company, Inc. The primary dispute involved whether the trial court improperly used parol evidence to identify the 'buyer' in the guaranty as the corporate entity, rather than 'Frank Webb d/b/a East West Truck Stop', which Webb argued violated the Statute of Frauds. Webb also contested the finding of adequate consideration and the dismissal of a counterclaim alleging usurious late charges. The Court of Appeals affirmed the trial court's judgment, concluding that the 'buyer' was sufficiently identified as the corporate entity, thereby preventing the guaranty from being an 'exercise in futility'. The court also found sufficient consideration for the guaranty and upheld the dismissal of the usury counterclaim.