Recent content by TieRod

That was my interpretation on the writing of the contract when I read it. that the truck would be collateral but then the mustang would be sold to recuperate lender's money. Also the borrower left the mustang with the lender while the borrower left the state to live in another state for awhile...

Hello adjusterJack, thanks for the reply: I personally don't know what the intent was for the truck to be used as collateral or the mustang because I was not there at the signing of the contract. After the borrower showed me the contract and before they go to the court the borrower just wanted...

Hello ElleMD, thanks for the reply: Both parties signed the contract and both was in sound mind at the time of signing contract. However, the borrower wants the mustang back and if any vehicle had to be sold then the truck should have been sold since it was used as collateral. As you can see on...

I am going to write out the contract verbatim (leaving out names) so you can get a mental picture. This contract was executed as written verbatim. Start: Oct 24, 2014, I Borrower do hereby agree to pay to the lender the sum of $9000. This loan is to be repaid in full no later than March 5...