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Business, 02.12.2019 17:41 21smartness21

Wintersport ltd. contacted millionaire inc. to offer advertising, production, and printing services for millionaire’s magazine, opulence. wintersport and millionaire entered into a $170,000 contract for the printing of one monthly issue in october 2000. they performed that contract and launched negotiations to print the next month’s issue. strong, senior vice president of millionaire. com, and leiter, president of wintersport, handled most of the negotiations and communications. due to financial difficulties, millionaire reduced the size of its order for the second issue and requested payment terms on the reduced price of $80,000. concerned about millionaire’s creditworthiness, leiter told strong that wintersport would extend credit to millionaire only if millionaire paid a $10,000 down payment and millionaire’s ceo (white) personally guaranteed the balance due. during a phone call between their respective offices in washington and south carolina, leiter requested and received white’s oral agreement to the personal guaranty. leiter then sent a confirming fax to white’s office, and white express mailed to wintersport a $10,000 check drawn on millionaire’s account. when millionaire failed to pay the amount due on the contract, wintersport filed suit against white and others. white argued that the action should have been dismissed because the statute of frauds prevented the enforcement of his oral guaranty. was he correct?

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