Catherine Romanov was a loan officer who needed one last loan to make her quota for the month. Yvonne Gunner, who was only a freshman in college, walked in one day for a loan for a new software business she was starting. She had never dealt with banks before and did not understand the nuances of loans but asked very good questions. Ms. Romanov, however, was ruthless and intentionally did not answer the questions accurately. Had Ms. Gunner received accurate answers to her questions, she would not have taken the loan. After six months, Ms. Gunner defaulted on the loan, and the bank pursued her for payment. 1. Does Ms. Gunner have any remedies?
Catherine Romanov was a loan officer who needed one last loan to make her quota for the month. Yvonne Gunner, who was only a freshman in college, walked in one day for a loan for a new software business she was starting. She had never dealt with banks before and did not understand the nuances of loans but asked very good questions. Ms. Romanov, however, was ruthless and intentionally did not answer the questions accurately. Had Ms. Gunner received accurate answers to her questions, she would not have taken the loan. After six months, Ms. Gunner defaulted on the loan, and the bank pursued her for payment. 1. Does Ms. Gunner have any remedies?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Catherine Romanov was a loan officer who needed one last loan to make her quota for the month. Yvonne Gunner, who was only a freshman in college, walked in one day for a loan for a new software business she was starting. She had never dealt with banks before and did not understand the nuances of loans but asked very good questions. Ms. Romanov, however, was ruthless and intentionally did not answer the questions accurately. Had Ms. Gunner received accurate answers to her questions, she would not have taken the loan. After six months, Ms. Gunner defaulted on the loan, and the bank pursued her for payment.
1. Does Ms. Gunner have any remedies?
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