Finance Law | Assignment | Doc

Running head: FINANCE LAW
Finance Law
Name of the Student
Name of the University
Authors Note
Course ID

FINANCE LAW1
Table of Contents
Finance Law...............................................................................................................................2
Issues:.....................................................................................................................................2
Laws:......................................................................................................................................2
Application:............................................................................................................................4
Conclusion:............................................................................................................................5
References:.................................................................................................................................6

FINANCE LAW2
Finance Law
Issues:
In reviewing the complaint bought by Matilda and Ulysses, the issues identified are as
follows;
a. Whether the loan of complaint’s with the FSP is unjust; and
b. If the loan is unjust then what are the possible remedies?
Laws:
As stated in the “sec 11 of the UCCC” in any kind of proceedings where the party
makes a claim that a credit contract, mortgage or guarantee is one on which this code is
applicable, it is supposed to be unless the contrary is established1. Credit is considered
conclusively for the purpose of this code not to be given completely or predominantly for
personal, domestic or household purpose if the debtors makes the declaration that the credit is
to be implemented completely or mainly for the business or investment purpose.
There are several types of lending that occur with the help of intermediaries namely
brokers, that negotiate with and attracts the clients on their behalf of lenders mainly exchange
of commission. There have been several reports of brokers falsifying the information on the
loan applications, especially the low doc applications so that they can have the loans
approved and get their commission2. Problems comprising of brokers and other types of
intermediaries have been compounded due to the lack of redress available to customers that
1 Winship, Peter. "An Historical Overview of UCC Article 9." Unedited text of (2016).
2 Elvy, Stacy-Ann. "Contracting in the Age of the Internet of Things: Article 2 of the UCC
and Beyond." Hofstra L. Rev. 44 (2015): 839.