Broadcasts.com - "September 2019 - Radiance Capital Receivables Fourteen etc v Foster et al" (Oral Arguments of the Supreme Court of Virginia)

Published: Sept. 19, 2019, 7:04 p.m.

This podcast is provided by Ben Glass and Steve Emmert

Granted Appeal Summary

Case

RADIANCE CAPITAL RECEIVABLES FOURTEEN, LLC, AS ASSIGNEE OF NEW SOUTH FEDERAL SAVINGS BANK v. ROBERT D. FOSTER, ET AL. (Record Number 180678)

From

The Circuit Court of Gloucester County; C. Maxfield, Judge.

Counsel

Glen W. Thompson and Kristen R. Jurjevich (Pender & Coward, P.C.) for appellant.

Breckenridge Ingles (Martin, Ingles & Hensley, Ltd.) for appellees.

Assignments of Error

The Trial Court erred in finding that a contractual waiver of the benefits of any statute of limitations in the Guaranty signed by the Defendants as consideration for a Commercial Loan is not valid and enforceable according to the terms of Virginia Code Annotated § 8.01-232(A).

The Trial Court [erred] in finding that the Defendants’ waiver of the benefit of any statute of limitations was not a completed performance at the time it was signed, but was instead a promise of a future performance.

The Trial court erred in finding that the Plaintiff must prove by clear and convincing evidence that the Defendants signed a Commercial Guaranty waiving the benefits of any statute of limitations with the fraudulent intent to refuse to be bound by the signed waiver as a requirement for the waiver to be enforceable under the provisions of Virginia Code § 8.01-232(A).