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Home / Opinion Digests / Commercial – Promissory Note – False Pretenses – 'False Pretenses' (access required)

Commercial – Promissory Note – False Pretenses – 'False Pretenses' (access required)

Where sellers and buyers, in order to enable buyers to obtain financing for the real estate purchase through the bank's "low-documentation" loan program, falsely represented that buyer would be putting down 25 percent of his own cash as a down payment, when in fact, the transaction was structured so that buyer at closing would be ...