Question: This is a post first discussion forum. Please respond to the following scenario: A Question of Ethics-Promissory Estoppel. Claudia Aceves borrowed $845,000 from U.S. Bank
This is a post first discussion forum. Please respond to the following scenario: A Question of Ethics-Promissory Estoppel. Claudia Aceves borrowed $845,000 from U.S. Bank to buy a home. Less than two years into the loan, she could no longer afford the monthly payments. The bank notified her that it planned to foreclose on her home. (Foreclosure is a process that allows a lender to repossess and sell the property that secures a loan.) The bank offered to modify Aceves's mortgage if she would forgo bankruptcy. In reliance on the bank's promise, she agreed. Once she withdrew the filing, however, the bank foreclosed and began eviction proceedings. Aceves filed a suit against the bank for promissory estoppel. [Aceves v. U.S. Bank, N.A., 192 Cal.App.4th 218, 120 Cal.Rptr.3d 507 (2 Dist. 2011)] (See Promissory Estoppel.) 1. Could Aceves succeed in her claim of promissory estoppel? Why or why not? 2. Did Aceves or U.S. Bank behave unethically? Discuss
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
