Question: (i) What is the difference between duress and undue influence? (8 marks) (ii) Peter and Paul, two brothers came to the bank together where Peter

(i) What is the difference between duress and undue influence?

(8 marks)

(ii) Peter and Paul, two brothers came to the bank together where Peter applied for a personal loan of HK$1,000,000.00 and invited his younger brother Paul to be his guarantee. Peter and Paul jointly owns a property which is worth $8,500,000.00. Peter further said his brother could take out half share of his property as security. Peter is 40 years old working as a businessman while his brother Paul is 21 years old and a student studying in HSPCC. Assume you are the bank manager. Peter is responsible to paid off the monthly mortgage of the jointly owned property where Paul used to pay part of the dialy expenses of the property such as water & electricity bills. What steps should you take in order to protect the interest of Paul.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Arrow Air is a regional East Coast airline that has collected data for the percentage available seats occupied on its flights for four quarters(1) JanuaryMarch, (2) AprilJune, (3) JulySeptember, and...

Peter and Paul, two brothers came to the bank together where Peter applied for a personal loan of HK$1,000,000.00 and invited his younger brother Paul to be his guarantee. Peter and Paul jointly owns...

Chapter 10 from Business Law and the Legal Environment was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as requested...

1. The difference between void and voidable contracts does not matter if the goods are still in the possession of the original parties when the contract was set aside. a. True b. False 2. M sells...

Questions Chap 1 1. Consider the following cases and decide whether criminal or civil proceedings would result, and make a note of the parties in the action. a) Ali is being prosecuted for careless...

3-2 Rite Aid Inventory Surplus Fraud Occupational Fraud comes in many shapes and sizes. The fraud at Rite Aid is one such case. On February 10 th , 2015, the US Attorney?s Office for the Middle...

1. Daniel Dimwit sees an advertisement for a toaster oven at Target for the price of $49.00. When he gets to Target they are all sold out. Sears has the same toaster oven for $60.00. Can Mr. Dimwit...

Criteria Exemplary 6 points Accomplishe d 4.8 points Developing 3.6 points Beginning Minimum Below Standards 2.4 points 1.2 points Formulated, wrote, interpreted, argued, and evaluated...

This text was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution as requested by the work's original creator or licensee. 1...

1. Fundraising and Disclosure Documents - Share Capital - Types of Sharee (a) What types of Disdosure Documents can be used for capital raising? (Sect9,5705, 709, 92) (b) When do you have to give a...

How does a corporate income tax affect firms that operate in a perfectly competitive industry? Are the conclusions reached in the previous question applicable in this situation?

An indexed mutual fund, Fund X, invests in the Australian public stocks which claim to have an objective to track the performance of the ASX200 Stock Index. Using monthly returns on the fund and the...

Im interested in understanding what we should price Ant at if ee wart to have a 4 8 . 7 5 magin. Remember, we need to accourt for the Imentory carrying costs and please maume perlod expenses and...

As the manager of Smith Construction, you need to make a decision on the number of homes to build in a new residential area where you are the only builder. Unfortunately, you must build the homes...