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A young couple wishes to take out a sizeable home loan and, at the insistence of the bank, your client, ask the husband's elderly Chinese
A young couple wishes to take out a sizeable home loan and, at the insistence of the bank, your client, ask the husband's elderly Chinese parents to guarantee the loan. The parents have very limited spoken and written English. Under what circumstances would you advise your client, the bank, that they could successfully rely on this guarantee should the young couple default on their loan?
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