Legal Question in Business Law in California
Isn't it illegal to misstate your financial condition lenders?
Asked on 3/28/19, 4:41 pm
2 Answers from Attorneys
Bryan Whipple
Bryan R. R. Whipple, Attorney at Law
Well, maybe, but “illegal” is a broad concept. A misstatement that results in a lender being deceived and lending to its harm will probably enable it to sue for civil fraud. Similar additional facts such as intent to defraud would also have to be plead and proven under most criminal statutes.
Answered on 3/28/19, 7:49 pm
Edward Hoffman
Law Offices of Edward A. Hoffman
Mr. Whipple is right. What you asked isn't a yes-or-no question.
Answered on 3/29/19, 5:06 pm
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