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Contracts Keyed to Templin
Batsakis v. Demotsis
Citation:
226 S.W.2d 673 (1949)
ProfessorMelissa A. Hale
CaseCast™ – "What you need to know"
Facts
Defendant owned money and property in the United States, but was in Greece and facing financial hardship due to the conditions produced by World War II. During this time, Defendant could not make use of her money and property and credit existing in the United States. Plaintiff agreed to and did lend Defendant 500,000 drachmae, which at the time had the value of $25.00. Plaintiff then exacted a written instrument that was a promise by Defendant to pay Plaintiff a total of $2,000. Defendant wrote to Plaintiff that they received the $2,000 from Plaintiff and promised to repay the loan and until the loan was repaid, there would be an 8% interest added and paid to the principal.
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