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Re: Re: A question on honor
> Unfortunately, I know that none of you want to believe that
> Tom owes anyone money, however, if he borrowed money from
> Sara -- he owes her repayment. He tried to assign a debt
> owed to him by Jon to cover his debt to Sara. She accepted
> that assignment, as a method of repayment, however, Tom
> still owes her the money. Her polite absolution of Tom does
> not destroy the equities involved. Jon owes Tom money which
> Tom needs to tell Jon to repay to Sarah based on his
> agreement with Sara (did he do that, if not the assignment
> is incomplete). Nevertheless, Sara has recourse to Tom to
> pay the debt, because he is the one who has the legal and
> moral obligation to pay -- all he has done is assign Jon's
> debt to Sara as a method of repayment -- he has not gotten
> rid of his debt.
The scenario as presented clearly suggests to me that she was "buying"
the "note", not loaning money to Tom. He didn't try to assign the debt;
he sold the obligation. His offer to remain liable for the debt was
declined by Sarah. I don't see where he remains liable. Nothing in the
original statement of the problem says that Sarah _loaned_ money to Tom.
The only _loan_ was from Tom to Jon, which was then transferred to Sarah.
You can make a loan and sell the note and then be completely clear of
any obligation to the new note holder. That is what appears to have
occurred in this case.