Legal Question in Credit and Debt Law in California

A loaned B $50K for 5 years w/ written agreement. In year 2, A disscoverd that B used nonexistant collateral for loan. Can B sue A for fraud in Superior Court even though term for repayment has not expired.


Asked on 8/02/09, 10:59 pm

1 Answer from Attorneys
Larry L. Doan Law Office of Larry L. Doan

I think you meant to ask if A could sue B for fraud, because B is the one who allegedly used nonexistent collateral to induce A to loan the money. Yes, A could sue B for rescission of the loan agreement on the grounds of fraud. You'd need an attorney to represent you on the lawsuit.

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Answered on 8/04/09, 3:51 am


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