Legal Question in Banking Law in Arkansas

Borrower's rights

I am a licensed general contractor, who has contracted with a client to build their home. After my client was approved for the construction loan, they requested for them to use a different contractor. What right does the bank have to deny my client their construction loan because of the contractor they choose?

Asked on 12/29/08, 4:16 pm

1 Answer from Attorneys

David Anderson Anderson Business Law LLC

Re: Borrower's rights

Unless you have lost your licensure or have a string of bankruptcies or mechanics lien claims on your records, you may have an action vs. bank for business slander or tortious interference with contract.

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Answered on 12/29/08, 4:25 pm

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