In addition, the MCAS defines 'credit agreement" as "an agreement to lend or forbear repayment of money . . . or to make any other financial accommodation" and prohibits a debtor from "maintain[ing] an action on a credit agreement unless the agreement is in writing, expresses consideration, sets forth the relevant terms and conditions, and is signed by the creditor and debtor." Minn. Stat. § 513.33, subdiv. 1(1), subdiv. 2.
Ralph T. Wutscher
McGinnis Tessitore Wutscher LLP
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Chicago, Illinois 60602
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