Legal Question in Business Law in California

Isn't it illegal to misstate your financial condition lenders?

Asked on 3/28/19, 4:41 pm

2 Answers from Attorneys

Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Well, maybe, but “illegal” is a broad concept. A misstatement that results in a lender being deceived and lending to its harm will probably enable it to sue for civil fraud. Similar additional facts such as intent to defraud would also have to be plead and proven under most criminal statutes.

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Answered on 3/28/19, 7:49 pm
Edward Hoffman Law Offices of Edward A. Hoffman

Mr. Whipple is right. What you asked isn't a yes-or-no question.

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Answered on 3/29/19, 5:06 pm

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