Loan Commitment

contribute COMMITMENTS Reid C. Wilson Wilson, Cribbs & Goren, P.C. Houston, Texas 37th Annual William W. Gibson, Jr. Mortgage loaning Institute September 2003 LOAN COMMITMENTS TABLE OF CONTENTS I. world A. oscilloscope of Article. B. contribute freight Reference substantials. C. Function of impart Commitments. TYPES OF LOAN COMMITMENTS A. Non-binding give Commitment. B. possible loanword Commitment. 1. Inclusion of Contingent Language. 2. Borrower Misunderstandings. 3. proxy Cases. 4. Risks of Contingent Loan Commitment. 5. Standards for Lender Approval. C. Firm Loan Commitments. 1. do of Detail. 2. Specificity of Conditions Precedent. 3. Contingent vs. Firm Loan Commitments. D. Unilateral/ bilaterally symmetric Loan Commitments. E. Forms. CONTRACT LAW ISSUES A. Oral Loan Commitments. 1. codified of Frauds. 2. mathematical process Within One Year. 3. Promissory Estoppel. 4. breakaway Tort Causes of operation Not Affected. 5. Standards of Certainty Requir ement. B. Consideration. 1. Commitment Fees. 2. No Commitment Fee. C. Unenforceability for Vagueness. D. direct Construction. E. Anticipatory Repudiation. F. Waiver. G. avocation to Perform/ careless(predicate) Breach. H. Privity/Third-Party Beneficiaries. NON-CONTRACT LAW ISSUES A. delusory Trade Practices Act. B. Statutory Real ground Fraud. C. Negligent Misrepresentation. D. Negligent Breach. E. Fraud. 1. Fraudulent Misrepresentation. 2. Duty to Disclose Material Information. F. Good doctrine and Fair Dealing. G. Duress. H. Promissory Estoppel. DAMAGES A. Causation. 1 1 1 1 1 1 3 3 3 4 5 5 7 7 8 8 8 9 9 9 9 10 10 10 11 11 11 12 13 14 16 17 18 18 19 19 20 20 22 22 22 24 24 26 27 28 28 II. III. IV. V. i B. true(a) Damages. C. Punitive Damages. D. Specific implementation. E. Borrowers Duty to Mitigate. VI. DRAFTING SUGGESTIONS FOR LENDERS A. Non-binding Loan Commitments. B. Arbitration. C. Jury Waiver. D. DTPA Waiver. E. Contingent on Underwriting. F. Perf ormance by Borrower. G. Conditions Precedent! . H. Commitment Fee. I. Lender...If you want to get a estimable essay, order it on our website: OrderEssay.net

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