Gary Culver (defendant) received $30,000 from Nasib Kalliel, a business associate, who had obtained the money through a loan from Kalliel’s bank (the bank). Culver believed that Kalliel would be responsible for repaying the bank. A bank representative later approached Culver with a document for signature. The bank representative told Culver that the document was a receipt for the $30,000, and Culver signed the document. In fact, the document was a promissory note. When Culver signed the note, key terms such as the maturity date, principal amount, and interest rate were all left blank. These terms were completed later and included a principal amount of $50,000. The bank became insolvent, and the Federal Deposit Insurance Corporation (FDIC) (plaintiff) purchased the bank’s assets, including the promissory note. The FDIC brought an action against Culver, who asserted a defense of fraud in the factum. The FDIC moved for summary judgment.