Opinion ID: 544601
Heading Depth: 1
Heading Rank: 2

Heading: propriety of entering summary judgment on counts i and iii

Text: 13 It is uncontroverted that Jose Rivera executed and delivered to the now defunct Girod Trust Company a promissory note dated December 29, 1983, in the principal amount of $1,000,000, to cover a commercial loan to BRACERO for that same amount, and that the FDIC purchased the note upon the closing of GIROD. Thus, the only issue on appeal is whether there is a genuine issue of material fact as to whether Rivera executed the note in his personal capacity, as the FDIC claims it appears on the face of the note, or, as Rivera claims, as a representative for a corporation. 14 Despite appellants' arguments that the district court failed to view the evidence in the light most favorable to the nonmovants, that is, to themselves, we find that there was no genuine issue of material fact about the capacity in which Rivera signed, and thus that summary judgment was properly granted. Although appellants assert that there were two affidavits supporting their contention that the BRACERO mortgage was signed by Rivera in his personal capacity, as well as Girod Trust Company documents revealing the corporate nature of the debt, we find that, regardless of the evidence presented, there is no genuine issue of material fact in light of Rodriguez Vidal v. Benvenutti, 115 D.P.R. 583 (1984). 15 Rodriguez Vidal v. Benvenutti, 115 D.P.R. 583, is dispositive. There, the Supreme Court of Puerto Rico held that: 16 in situations involving notes or other types of obligations, which only seek to link a corporation, such limitation must stem and expressly appear from the text of the main document and not from the notarial acknowledgment form. The intent and substance of the document cannot be left in the hands of the notary. 17 Id. at 590. Rodriguez Vidal presented a novel issue in Puerto Rico. In that case, the signatories of a promissory note executed in 1981 alleged that they were not personally liable on the obligation because--although not so stated in the body of the note--they had executed the same on behalf of a corporation. During the course of the litigation, the signatories relied on the statement made by the notary public in the note's affidavit that they were signing in their character as president and treasurer of a corporation. 2 18 In this case, like in Rodriguez Vidal, Rivera signed the note solely with his personal signature, Jose Rivera Arroyo. Although, on the same piece of paper, the notary public noted the position of Rivera as being the president of Bracero & Rivera, and the cover of the document lists the corporation as the debtor, under Rodriguez Vidal this is not sufficient to hold the corporation responsible for the debt. Id. at 590. We need go no further. 3
19 Appellants next argue that the district court failed to analyze all the facts related to the personal loan of Jose Rivera-Arroyo. Rivera-Arroyo argues that he was willing to make payment on the loan, subject to the devolution of certain guarantees given to Girod Trust. He argues, however, that these guarantees never had either legal existence or significance because of the closing of Girod Trust Company, and essentially that the FDIC should have returned the documents to him. 20 We find this argument in error. Whether or not the FDIC was in rightful possession of the documents or whether the documents had legal significance is immaterial with regard to Rivera's liability under the loan agreement which is the subject of Count I. The FDIC's motion for summary judgment was supported by four documents: a certified copy of the promissory note in the principal amount of $122,133.87 executed by Jose R. Rivera-Arroyo; a certified copy of the FDIC's purchase of said note; and a statement under penalty of perjury attesting to the fact that the FDIC purchased that note. Moreover, Rivera stipulated to those facts, as well as to the fact that he had made two partial payments, and that he offered to pay the balance due on the condition that certain other collateral documents be returned to him. The district court properly granted summary judgment to the FDIC with reference to Rivera's liability, and appellants fail to demonstrate that this was error.