1. What are the purposes of the notice provisions in the Louisiana code? Did this court stay...
Question:
1. What are the purposes of the notice provisions in the Louisiana code? Did this court stay true to those purposes? Explain your answer.
2. How might the lender have avoided the dispute in this case?
On April 30, 2001, Dr. Mitchell borrowed $143,724 to purchase a house and the lot on which it was located * * * (the “Property”). [The loan] * * * was secured by a mortgage on the Property. The mortgage contained [a clause] providing for the acceleration of the amount secured and the sale of the property in the event of a default on the loan. In 2006, Dr. Mitchell defaulted on her mortgage payments. On December 15, 2006, [the lending bank] commenced an executor proceeding. The trial court ordered the issuance of a writ of seizure and sale.
Step by Step Answer:
Business Law Text and Cases
ISBN: 978-1111929954
12th Edition
Authors: Kenneth W. Clarkson, Roger LeRoy Miller, Frank B. Cross