Legal Question in Business Law in California
Is a special guarnator verification form required with a loan note?
Asked on 11/27/12, 10:48 pm
2 Answers from Attorneys
Bryan Whipple
Bryan R. R. Whipple, Attorney at Law
Not usually, because most loans do not involve guarantors. In those rare cases where the loan arrangements call for a guaranty to be given by a party who is not a borrower, the lender may reasonably expect the guarantor to execute one or more documents, one of which might bear a name something like "special guarantor verification."
Answered on 11/28/12, 9:48 am
Terry A. Nelson
Nelson & Lawless
That is up to the lender, who can require anything he wants. If you want the loan, comply or try to negotiate a change.
Answered on 11/28/12, 11:20 am
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