law:if son has financial problems and goes to the local bank asking for a loan......

D

David F

New member
...they ask father to guarante? If a son has financial problems and goes to the local bank asking for a loan... they ask father to guarantee for son's debts. Father calls bank and advises banker that he will "make good" on the loan if son defaults. the banker has son fill form and sends form for the father to sign. the father is out of country but says he will sign when he returns. the son is given the loan. father never signs the form and son defaults... can the father be sued?

was that a sufficient verbal contract?
 
Without a written contract,. it all boils down to he said she said. I would not even answer the phone from the bank. If they take you to court, they don't have a leg to stand on.

~~Donna~~
 
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