Legal Question in Consumer Law in Georgia
legally binding contract
my mom apparently signed for a loan for my brother thinking she was signing as a co-signer, but in fact she signed the loan...she doens't recall how it all unfolded ..but bottom line she is an 88 yr old senior living on ssa and don't have $$ to pay for my brother's car which i think he somehow mislead her into signing for the loan.
1 Answer from Attorneys
Re: legally binding contract
If a person has the mental capacity to handle her financial affairs, she is generally going to be bound by the contract. Age and financial condition alone do not generally make a person incapable of contracting. Neither does being misled by relatives. However, the real bottom line is that whether she signed as primary borrower or co-signer, she would still be liable for the debt.
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