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This newspaper page contains 4 articles. Subscribers can read the full text of each article.
Newspaper
Monahans News
Location
Monahans, Texas, United States of America
Date
Jun 23, 1969
Page
7
The text explains that bankruptcy can erase many debts but not debts arising from fraud. If a borrower obtained funds by providing a false financial statement, bankruptcy will not discharge that debt. Thus deception creates a trap for the debtor, though the law also acknowledges some protections for the lender.
A court ruled that debt was discharged by bankruptcy when a debtor was induced to understate obligations on a loan form by a bank manager. The ruling held the lender cannot blame the debtor for false statements if it relied on its own data or failed to rely on the misstatements in approving the loan.
Harold B. Eudaly Jr of Grandfalls is appointed to the Governor's Committee of 500 to promote Amendment No. 2 and bond issuance for the Texas Water Board project. Toon Estes of Monahans also serves on the committee.
A fragmentary text suggests a claim of deception may have been unfounded, with wording indicating skepticism about whether an illusion existed or was merely perceived. No identifiable individuals or organizations are named in the readable portion.
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