PM has subscribed me to a "free trial"

[Rolf Latham]

It is a fundamental principle of contract law that silence cannot be construed as acceptance, i.e. you can't say "we'll have a contract unless you say otherwise"..

thats good to know, different idea, similar concept.......

So lack of disclosure by a banker or broker about the potential risks of xcoll, so the client can make a proper informed decision would be legally regarded as ............. staying stumm or playing dumm ?

I have ZIP legalese knowledge so trying to get some feedback here

There are quite a few other concepts in my industry where the client impact of the poor practice is well known, but there is very little education Or indeed industry best practice guidance on the matters - CRAA file abuse is just another

ta
rolf

 

[Perp]

thats good to know, different idea, similar concept.......

So lack of disclosure by a banker or broker about the potential risks of xcoll, so the client can make a proper informed decision would be legally regarded as ............. staying stumm or playing dumm ?

I'm not yet a lawyer, so can't provide anything like a complete answer, but I don't think lack of disclosure of peripheral consequences is legally the same; this common law principle applies to the main substance of the contract. So a lender can't say: "unless you write back saying no, we're taking a mortgage over your property at 12%".

There are so many obligations on lenders that I'm sure that at least some of the practices you allude to only exist because nobody's legally challenged them yet, and it'll be interesting to see what happens when they do.

Get back to you in a couple of years. Or else Terry or thatbum or another lawyer might chime in.

 

[twobobsworth]

Argh....just got my statement with the $55 renewal fee deducted. "Trial" has now expired. Need to read my mail more often.

 

[S.T]

Argh....just got my statement with the $55 renewal fee deducted. "Trial" has now expired. Need to read my mail more often.

I'd be ringing my PM to give me that $55 back if I was you. Don't put up with that rubbish.