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4 Liability for Failing to Advise or Warn about a Transaction or Provide Information

From: Principles of Lender Liability

Parker Hood

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2021. All Rights Reserved.date: 23 October 2021

Subject(s):
Obligations to advise on transactions — Remedies for lenders’ breaches — Banker-customer contract — Guarantees and security — Interest and credit — Financial Services and Markets Act 2000 — Financial promotion
4.01 As a lender will normally, be in a debtor-creditor (arm’s length) relationship1 with a customer/borrower, the lender will not usually be under an obligation to give advice to the customer/borrower regarding a transaction the lender is funding. This chapter considers three main areas in which a lender will come under an obligation to advise or warn a customer/borrower and/or a third party about the risks or problems regarding a particular transaction.2 The first area concerns the lender’s primary liability, under the general law, where the lender is being...
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