Legal Question in Business Law in Michigan
In a business contract, if the loan and papers were set at $100,00 but in acuality only $70,00 was put in is the contract still valid? I realize this is quite a general statement, but it is the simplest summation of the situation I have.
Asked on 4/11/12, 11:44 am
1 Answer from Attorneys
Timothy Klisz
Klisz Law Office, PLLC
I would say it is valid up to the amount actually loaned. It would require a much more detailed analysis, however. Tim Klisz kliszlaw.com
Answered on 4/11/12, 11:57 am
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