Oral loan agreements are enforceable in all four states in the Kansas City Region
if the agreement has been "wholly performed" on one side. As long as the loan agreement
is made between the lender and the recipient, it does not matter whether the proceeds
are given to the recipient or a third party.
Mike and Bob orally agree for Mike to loan Bob $1,000. The agreement includes an obligation
to repay and a feasible repayment plan. Once Mike gives Bob the $1,000 then one side
of the agreement has been wholly performed and the agreement is bona fide.