Contracts — justifiable reliance

Posted October 14, 2020 12:14 PM

Where a lender specializing in nontraditional loans requiring personal guarantees relies without investigation on the financial representations of a borrower whose financial results have repeatedly proven so unreliable as to require loan modifications to meet payment obligations, the reliance is not justifiable or reasonable.The 1st District Appellate Court affirmed the decision of Cook County Associate Judge James E. Snyder.The Rosewood Facilities were composed of 14 nursing homes and several real estate holding companies …

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