Loan agreement: onerous term | Practical Law

Loan agreement: onerous term | Practical Law

The High Court has held that a lender did not have a duty to inform a borrower of an onerous term in a loan agreement which could lead to a significant liability in the event of early repayment.

Loan agreement: onerous term

Practical Law UK Articles 5-631-3827 (Approx. 3 pages)

Loan agreement: onerous term

by Freshfields Bruckhaus Deringer LLP
Published on 28 Jul 2016United Kingdom
The High Court has held that a lender did not have a duty to inform a borrower of an onerous term in a loan agreement which could lead to a significant liability in the event of early repayment.