Revere Transducers Inc. v. Deere & Co.

Harry Katseanes instituted this action to collect the balance due on a promissory note after John Yamagata, the promisor, failed to make a full payment on the note. The promissory note was given as consideration for an assignment of a lease. In this appeal, we address the question whether the trial court properly excluded testimony of an alleged oral agreement made prior to execution of the assignment of lease and the promissory note. The trial court held the evidence inadmissible pursuant to the parol evidence rule. It is our determination that proof of the oral agreement is not precluded by the parol evidence rule. Consequently, we hold the trial court erred in excluding testimony of the alleged agreement. We reverse and remand for new trial.