Legal Question in Banking Law in Utah
Loan Documents not in native language
What kind of arguments could a business borrower make if he felt like a bank misled him about business loan repayment terms because the loan documents were in English but the borrower did not read or speak english and therefore never understood or really had a meeting of the minds in regards to the loan terms? Are there any court cases that have addressed this kind of issue?
Asked on 3/04/09, 11:12 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Re: Loan Documents not in native language
When the borrower signed the agreements he warranted that he understood the documents. He is bound to what he signed. If he did not understand he should have refused to sign until he could get an explanation.
Answered on 3/05/09, 10:36 am
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