A young couple wishes to take out a sizeable home loan and, at the insistence of the bank, your client, asks the husband's elderly Chinese parents to guarantee the loan. The parents have very limited spoken and written English. Under what circumstances would you advise your client, the bank, that they could successfully rely on this guarantee should the young couple default on their loan?

Answer rating: 100% (QA)

I would advice my client to rely on this guarantee only if some important conditions and circumstanc... View the full answer