Quote:
Originally Posted by Trendseeker
Plenty of loan contracts? Perhaps the lenders should be referred to the Australian legislation that prohibits lenders from repossessing property unless the borrower is in default and the lender has issued a notice giving 30 days for the borrower to pay. .
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It's called
non monetary default There was a whole session concerning It recently in the Banking Royal commission currently underway.
It's a very common clause in nearly every Business Loan.
A Queensland farmer was actually given His farm back. After a fight of course..
https://www.smh.com.au/business/bank...26-p4zns8.html