Facts

On Jan. 9, 2006, Robert and Elena Rad, and Iran Moosiki Inc., agreed to lend Trifish LLC $1,000,000. Trifish then executed a promissory note through Hooshang Namvar, payable to the Rads and Iran Moosiki, for $1 million plus interest. Namvar verbally personally guaranteed the loan.

PLAINTIFF'S CONTENTIONS:
The Rads and Iran Moosiki alleged that when the note was due, Namvar and Trifish defaulted.

DEFENDANTS' CONTENTIONS:
Namvar and Trifish alleged that Trifish was lent a total of $4 million, and after paying back $3 million, the parties executed a new note for the remaining balance. They further contended that they paid $1 million to Namco Capital Group Inc., which then assumed the promissory note through an assignment expressly consented to by the Rads and Iran Moosiki. Namvar and Trifish stated that the plaintiffs accepted interest payments from Namco from Nov. 2007 until the company filed bankruptcy in 2008.

Result

The jury rendered a verdict for the defense.