Author Question: Conville signed a note as an officer of the Hughesville Manufacturing Corporation, but she did not ... (Read 41 times)

schs14 · **on:** Jun 24, 2018

Conville signed a note as an officer of the Hughesville Manufacturing Corporation, but she did not name the corporation in the note or indicate that she was acting as an officer for it. Later, she was sued by the Grange National Bank, the holder of the note. She raised the defense that the corporation was liable on the note. Who was liable?

Question 2

The good faith estimate under RESPA must be given within one day of loan application.
Indicate whether the statement is true or false

kjohnson · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

Conville was personally liable on the note because she failed to disclose on the note itself both the name of the corporation and her representative capacity.

Answer to Question 2

FALSE