QuickHelper

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Category > Management Posted 04 Oct 2017 My Price 8.00

When the Walshes were unsuccessful in obtaining business finance

When the Walshes were unsuccessful in obtaining business finance from their local bank, they turned to a finance company. Although they were initially seeking $50,000, the loans officer prepared “projected figures” and concluded that the Walshes should borrow $300,000 secured over the family home. With no experience in business, the Walshes relied on the figures prepared by the loans officer and executed the loan and mortgage and in fact the business is not making enough money to cover the interest payments.

 

Discuss whether the Walshes have any grounds for invalidating the loan and mortgage contract under contract law.

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QuickHelper
(10)
Status NEW Posted 04 Oct 2017 10:10 AM My Price 8.00

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