Federal Deposit Insurance Corp. v. Central Air Control, Inc

In Federal Deposit Insurance Corp. v. Central Air Control, Inc., 785 F. Supp. 898 (D. Kan. 1992), guarantors of certain promissory notes raised, in opposition to a summary judgment motion, the defense of failure of consideration. The District Court held that, because the defendants failed to raise this defense in their answer, the defense was waived. Id. at 901.