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Knowledge of the transaction is an essential element of a valid loan application.
by DangitBobby 4y ago
Knowledge of the transaction is an essential element of a valid loan application.
- mehphp 4y agoRight, but if you transfer that money away before the bank gets it back then you would be liable for that part.
- DangitBobby 4y agoI understand what the law probably says, I'm arguing that it's nonsense. The scammer stole money from the bank in this scenario because the bank fulfilled a fraudulent loan application without due diligence of ID confirmation. The fact that this could be Bob's problem demonstrates how dystopian our legal system is.