Bernard Flinn operated a business known as Harvey Investment Co., Inc./High Risk Loans. Flinn worked as a

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Bernard Flinn operated a business known as Harvey Investment Co., Inc./High Risk Loans. Flinn worked as a loan broker, matching those who came to him with lenders willing to loan them money given their credit history and the amount involved. From 1982 through 1985, Flinn found loans for five people. Indiana requires that persons engaged in the business of brokering loans obtain a license from the state. Flinn was prosecuted for brokering loans without having a license. He raised the defense that he did not know that a license was required and that, accordingly, he lacked the criminal intent to broker loans without having a license. Does Flinn have a good defense? [Flinn v Indiana, 563 NE2d 536 (Ind)]

Broker
A broker is someone or something that acts as an intermediary third party, managing transactions between two other entities. A broker is a person or company authorized to buy and sell stocks or other investments. They are the ones responsible for...
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Andersons Business Law and the Legal Environment

ISBN: 978-0324786668

21st Edition

Authors: David p. twomey, Marianne moody Jennings

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