Questions & AnswersPublic Relations

Question 2 - Facts    Lucille Price is the registered proprietor...

Question
Answered step-by-step
Asked by AmbassadorChimpanzee3521 on coursehero.com

Question 2 - Facts    Lucille Price is the registered proprietor...

Question 2 - Facts 

 

Lucille Price is the registered proprietor of a house property which became subject to a mortgage to Eastpac Bank. The mortgage was given by Lucille as security for a loan made by the Eastpac to Lucille's husband, James Price, who was the sole proprietor of Price Consulting Services. 

 

The evidence is in November 2016 Lucille, an occupational therapist, had confidence in her husband who was continually in financial trouble.  James Price was in debt for car payments, a Visa credit card debt and an Eastpac personal loan. He asked his wife to guarantee his debt with Eastpac and to put up the title to the home (registered in her name only), as security for debts totalling $180,000. Lucille tried to ask her husband James questions about the Eastpac loan, but he put her off by saying "Don't you trust me and even if I did give you details you would not understand as you are stupid with money". 

 

Eastpac Bank gave the mortgage and guarantee documents to the husband, James, and asked him to arrange his wife Lucille to sign the documents before an independent witness and return them to the bank. No representative of Eastpac was in attendance when she signed.

 

Lucille was not given any chance to read the documents her husband presented to her for her signature and her attempts to ask questions only made her husband James angrier. James arranged for a neighbour Molly to come into their home to witness the signing of the Eastpac mortgage and guarantee documents including a Certificate that Lucille elected not to obtain independent legal and/or financial advice in relation to Eastpac's mortgage and guarantee. Molly noticed Lucille had tears running down his cheeks while Lucille was signing, and she was very quiet.

 

Lucille understood her husband James' debts were for car payments, credit card payments and a business debt, but she did not know the actual amounts owing nor that her husband James was in arrears of his car lease payments or credit card debts.

Lucille did not receive, and therefore could not read, the Eastpac Bank Guarantor's booklet 'What it Means to be a Guarantor'. Lucille did not know that she was signing a mortgage as such, she just knew it as loan documents or a Better Business Loan; she thought that she was guaranteeing her husband James' loan, but not giving a mortgage over her title to the home.

Lucille and James separated on 30 December 2017 and Lucille wishes to try and set aside the Eastpac mortgage and guarantee.

Students are required to complete the following: 

Q2A. Provide a written advice to Lucille Price as to whether she could successfully argue under contract law any bases (there is more than one and at least two need to be provided) to set aside the Eastpac mortgage and guarantee. Include organisational procedures. Quote cases to support views. 

You can seek help by reading the Class notes on Duress, Undue Influence, Married Woman's Equity and Unconscionability (and see also chapter 13 Graw). Further, the Additional Materials on Canvas will be of great assistance.

Answer & Explanation

Solved by verified expert
Answered by Dranreb071 on coursehero.com

sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis.

 

sectetur adipiscing

sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac m

CliffsNotes Logo

Unlock access to this and over
10,000 step-by-step explanations

Unlock Explanation

Have an account? Log In

<p style="margin-left:0px;">sectetur adipiscing elit. Nam lacinia pulvin</p><p style="margin-left:0px;"> </p><p style="margin-left:0px;"><strong>sectetur adipis</strong>s</p><ul><li><strong>sectetur a</strong>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusc</li><li><strong>sectetur ad</strong>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante</li><li><strong>sectetur</strong>sectetur adipisci<em>sectetur adipisci</em>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet</li></ul><p style="margin-left:0px;"><strong>sectet</strong>s</p><ul><li><strong>sectetur a</strong>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus</li><li><strong>sectetur ad</strong>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor</li><li><strong>sectetur</strong>secte<em>sectetur adipiscin</em>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio.</li></ul><p style="margin-left:0px;"><strong>sectetur adipisci</strong>s</p><ul><li><strong>sectetur a</strong>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus</li><li><strong>sectetur ad</strong>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisi</li><li><strong>sectetur</strong>secte<em>sectetur adipiscing elit. Nam lacinia</em>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie co</li></ul><p style="margin-left:0px;"><strong>sectetur adipiscing elit.</strong>s</p><ol><li><strong>sectetur adip</strong>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec faci</li><li><strong>sectetur adipis</strong>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie conseq</li><li><strong>sectetur adipisci</strong>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus effi</li><li><strong>sectetur ad</strong>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur la</li><li><strong>sectetur adipisci</strong>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapi</li></ol><p style="margin-left:0px;">sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoree</p><p style="margin-left:0px;">sectetur adip</p><p style="margin-left:0px;">sectetur adipiscing elit. Nam</p><p style="margin-left:auto;"> </p><p style="margin-left:0px;"><strong>sectetur adipiscing el</strong>s</p><ul><li><strong>sectetur a</strong>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet</li><li><strong>sectetur ad</strong>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequa</li><li><strong>sectetur</strong>secte<em>sectetur adipisci</em>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec fa</li></ul><p style="margin-left:0px;">sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit</p>

Step-by-step explanation

sectetur adipiscing elit. Nam lac

sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit

sectetur adipiscing e

sectetur adipiscing elisectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, co

sectetur adipiscing elitsectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur

  • sectetur adipissectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitu
  • sectetsectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapi
  • sectetur adipiscisectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molesti
  • sectetur adipiscing elsectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus

sectetur adipiscisectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui

sectetur

  • sectsectetur adipissectetur asectetur adipiscisectetur adipiscing elit. Nam lacinia pulvinar tortor nec faci
  • sectsectetsectetur adipissectetur adipiscinsectetur adipiscing elit. Nam lacinia pulvinar tortor nec fac
  • sectsectetur adipiscisectetur adipisectetur adipiscing elit. Nam laciniasectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. P
  • sectsectetur adipiscing elsectetur adipissectetur adipiscisectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapib

sectetur adipis

  • sectetur adipiscisectetu
  • sectetur adipiscinsectetu
  • sectetur adipiscing elit. Nam laciniasectetu
  • sectetur adipiscisectetu
  • sectetur adipiscing elit. Nam lacinia pulvinar

sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, di

 

Get unstuck with a CliffsNotes subscription

Example CliffsNotes Question and Answer
Unlock every step-by-step explanation, download literature note PDFs, plus more.Get Access

Related Q&A