Carpenter v. Payette Valley Cooperative, Inc.

BISTLINE, Justice.

On this appeal, we affirm a trial court decision denying any relief to appellant Carpenter on his action to collect the unpaid principal and interest on a promissory note alleged to have been guaranteed by respondent Payette Valley Cooperative, Inc. (the Co-op).

Distilled to its essence, the transaction involved a loan of $20,000.00 from Carpenter to a dairy farmer, Browne, in return for a $29,180.40 promissory note payable at $242.57 monthly. The loan was engineered by Collinsworth, the manager of the Co-op, who apparently thought the transaction would benefit Carpenter,…