Fancher Cattle Co. v. Cascade Packing, Inc.

—We restrict this opinion to one narrow issue. Does the word "purchase" in the following guaranty operate, prospectively only or retrospectively as well? Over plaintiffs' objection, the trial court granted partial summary judgment holding the guaranty operated prospectively only. We affirm. We are concerned only with the written guaranty; there was no contention that there could have been an oral agreement to pay for the debt of another.

Disregarding the salutation and signature, the body of the letter consisted solely of the following paragraph:

This will serve to assure you that in the event…