Yerkey V Jones : The Principle Expressed by Dixon J . Mr Jones intended to purchase a poultry farm for £3,300 With condition that Mr Jones should procure a second mortgage from his wife for £1000 The solicitor of the creditors prepared the mortgage and Mr Jones persuaded his wife to sign and made liable to pay £1,000. Mr Jones failed in his poultry business. Mrs Jones sought equitable remedy, claiming she did not understand the nature of the transaction and did not receive any independent legal advice. Supreme Court of South Australia: On grounds of undue influence, misrepresentation and unilateral mistake, Mrs Jones was entitled to equitable relief from the guarantee she signed. Yerkey appealed. In the High Court: Mrs Jones acted as a guarantor for her husband because he persuaded her and she did not understand the effects of the transaction. Dixon J expressed this principle: 1. It is the liability of the creditor if they rely on the husband to get the wife to be their guar-antor without dealing with her directly, knowing that the principal debtor (the husband) may misrepresent the true nature of the transaction and get the wife to be a guarantor by exerting undue influence on her. 2. i) The one guaranteeing the loan is the wife of the main applicant (the husband) in the loan. ii) The guarantor (the wife) decided to do so without any expectation of deriving any benefit from the transaction (voluntary basis). iii) That the guarantor would be asked to do so by the husband who is the main ap-plicant. In the sense that the lender is to be taken to have understood that, as a wife, the guarantor pose a lot of trust and confidence in her husband in matters of business and therefore to have understood that the husband may... ... middle of paper ... ... terms. Therefore cannot cover the whole field of unconscionable conduct. Mrs Garcia’s status as a professional does not qualify her under the Amadio principle. The only principle most appropriate for her is the principle expressed by Dixon J in Yerkey v Jones. Because it is still good law in Australia and applies to New South Wales. For the following reason: Mrs Garcia relied on her husband for all financial matters. By assuring her that “if the mon-ey isn't there the gold is there". The lack of independent advice makes the enforcement of the transaction unconscionable, even if there is no actual undue influence. Mrs Garcia had not obtained any benefit under the transaction. The importance of the principle lies in the relationship of trust and confidence that exists be-tween the guarantor and the principal debtor, and the lender’s knowledge of such relationship.
The speaker's relationship with her husband had to go over a few changes. At first, she did not want anything to do with her husband, she was still fourteen years old consequently feeling unready on handling such a big responsibility, but she had no other choice but to stay with him as she was a part of an arranged marriage. Later on, the speaker accepts her relationship with her husband and
A Lithuanian lawyer is sought to read over the contract. for the purchase of their house. Jurgis is suspicious when the lawyer and the agent are on a first-name basis. However, when the lawyer tells him that it is a legal and fair document, Jurgis. believe him to be true. The lawyer does not tell him of the loopholes that will eventually lead to the loss of the house.
The wife’s incompetency to make any decisions deems her unable to provide consent to sexual intercourse. Being a competent human being includes the ability to understand, appreciate and rationally manipulate information, as well as the ability to express a choice (Fischer, 2009, p. 24). The wife does not possess any of the traits associated with competency. Therefore, she is not competent enough to make the decision to consent to sexual intercourse. Not only is she unable to verbaliz...
It is only that her son promises to pay for five years with the amount of $50,000 dollars. However, the son paid his mother for only two years with an added 5% of the borrowed money and with only a single cheque presented is a clear indication that the quality of expenditure and credit is not a recurring income, nor intended for profit making on the part of the parent. The mother even told her son that no interest is required.
...ndependency (437; ch. 38). It is only when Jane has money of her own and is re-established in the social class to which she belonged that her marriage is able to take place without objections, or further complications.
To ensure that both minds in a marriage will come to similar requirements on issues, is to say that both individuals have evaluated each other and see each other as being well fit to
Though she is not aware of trying to create a perfect home like a doll house, her greed pushes her to act on a whim and borrow money from Mr. Krogstad to save her husband, whom she lies to that her father provided the money. She may have taken the decision out of love to save her husband’s pride, but the outcome was bound to be horrendous. She is portrayed as an independent woman, who however was inexperienced in the ways of the world, judging by how she was so quick in her judgment of trusting Kristina with her “secret”. While she may be trusting with Kristina, the same could not be said of her relationship with her husband and when she finds herself in a dilemma of facing the truth with him or leaving her marriage, she becomes withdrawn and edgy as the urge to tell the truth weighs down heavily on her. She not only borrows money, she lies and forges her father’s signature, because she knew that the loan would not be given to her without any male surety. In the end, she is torn between leaving her kids and starting an independent life and according to Daniel J. Brooks, “our social values, as in Ibsen’s time, teach us that no true mother leavers her
Overall Mrs. Luella Bates Washington Jones is a very responsible, respectful, appropriate, caring person. She sees herself in other people and shows great empathy for them. Mrs. Jones shows great responsibility and handles the situation very well when a young boy named Roger tries to take her purse while she is out walking. She starts off by kicking him and then talking some sense into Roger. She asks the young boy if he will run if she lets him go, his response is not what Mrs. Jones was hoping for so she makes him stick around a bit longer. She can see by his appearance that he has a tough life at home and decides to help him. Mrs. Luella Bates Washington Jones, brings Roger back to her house to clean him up and feed him some dinner. It was
Martineau assigned the financial management of the household to women. While she did indicate that it was the husband’s role to bring in wages, it was the wife who was responsible for maintaining and managing the expenses of the household. Mrs. Bell turns away her sister’s children after their mother dies saying “don’t expect me to put any such dead weight on my husband’s neck” (Martineau 11). Marshall objects with the fact that Bell’s “husband earns better wages than [hers]” (11). In this exchange, Martineau places the decision within the context of the respective families’ financial concerns.
For loan to be good three conditions should be fulfilled, ie. First that the borrower should be creditworthy. Which could be known by a detailed study of the following six aspects:
Dollars and Finance Limited , an Auckland based company they lending to consumers. Rodney Nathan , and their parents jointly owned by one of their client Keri property signed by the parent D & S Mortgage to provide security for an obligation to help Rodney to buy shares in the business , agreed to lend $ 245 000 . D & S Rodney and his lawyers to prepare a mortgage bonds, Mr Thomas said. He documents in Wiangaree. Mr Thomas, his parents split over several years should be able to live with, but is expected. Mr Nathan road sign, but her mother, the defendant, Nathan was already in Rarekohu therefore, he forged her signature to sign documents agree .
Dickinson determines and acknowledges that relationships require a mutual risk. The speaker deliberately and courageously expresses the couple as not being interdependent towards one another. Yet, she merges through this affirmation that “some” couples require mutual gain in which both persons are content with their part of the bargain. The purpose is for the wife to have financial security while the husband gains a dedicated wife, very similar to the woman during the 19th century. Dickinson expresses that this obligation will require the woman to forever be indebted “Insolvent” to the husband and the intention to feel otherwise is
The study defines “default” as a risk to the repayment history of borrowers where the borrowers have missed at least three installments in 24 months. This shows a symbol and indication of borrower behavior that will actually default to cease all repayments. This definition does not mean that the borrower had entirely stopped paying the loan and therefore been referred to collection or legal processes; or from an accounting perspective that the loan had been classified as bad or doubtful, or actually written-off (Pearson & Greeff, 2006). While, McMillion (2004) states that default is the risk where the borrower is unable to pay the loans. Default risk increases if a borrower has a large number of liabilities and poor cash flow.
However, there are instances when a woman must help her husband to support their families growing needs. Nowadays, it is not enough that a man carries the entire financial burden since one cannot support the needs alone with the bad economy giving almost everyone financial burden. The goods and commodities cost a lot plus the growing needs of the children should also be met aside from the basic needs that should be provided.
Credit risk insinuates a probable risk whereby the counterparty of a loan agreement is most probable to be unsuccessful in meeting its engagement as per the initial loan agreement which might ultimately default on the obligation. The main aim of credit risk management is to maximize a bank’s risk adjusted rate and preserve credit risk exposure with satisfying parameters. Moreover, banks require to maintain credit risk innate in the entire portfolio and also the risk in personal credits or transactions. The relationship between credit risk and other risks should be pondered by the banks and also the efficient management of credit risk is a primordial component of an understanding approach