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Business, 06.04.2021 01:00 marlandwilliams10

King had several outstanding unsecured loans with National Bank. In addition, King had a separate loan with National that was secured by a mortgage on a farm owned by King. King was delinquent on the mortgage loan but not on the unsecured loans. National asked King to sign renewal notes for the unsecured loans at substantially higher interest rates. When King refused, National informed King that it would foreclose on the farm’s mortgage if King did not sign. King signed but later disaffirmed the new unsecured notes, and National sued. King’s best defense is

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King had several outstanding unsecured loans with National Bank. In addition, King had a separate lo...
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