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. 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. Does Ms. Gunner have any remedies?
Business Its Legal Ethical & Global Environment
10th Edition
ISBN:9781305224414
Author:JENNINGS
Publisher:JENNINGS
Chapter12: Contracts And Sales:introduction And Formation
Section: Chapter Questions
Problem 7QAP
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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.
Does Ms. Gunner have any remedies?
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