Bank's Agreement To Accept Late Loan Payment Invalidates Trustee's Sale (Even If Trustee Was Unaware)
If a bank accepts a late loan payment and reinstates a loan - but doesn't tell the trustee, who conducts the sale and delivers a trustee's deed with all necessary recitals - is the sale still invalid? Yes, according to the court of appeal in Bank of America, N.A. v. La Jolla Group II, 05 C.D.O.S. 4271 (May 19, 2005).
Continue Reading Questions & commentsTermination Fee For Merchant Credit Card Account Not Unlawful Liquidated Damage
Is a $150 termination fee in a merchant's credit card agreement with a bank an unlawful liquidated damage provision?
No, according to the Fourth District Court of Appeal in Morris v. Redwood Empire Bankcorp, 05 C.D.O.S. 3671 (April 29, 2005).
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