Defective Loan Facility Agreement

sanjtheman

Yes you are right re bodmas

I did use bodmas though (t birds maybe us can use this knowledge to resit your GCSE maths exams again)

1/50 = 0.02 and % is rate applied its not part of the calculation otherwise it would be

base (as a %) + number ((1/50))x100 which equals a big percentage

Anyway have a friend who has a degree in maths and he has asked his old professor to give us a definate answer re the equation before proceeding

overall though - am confident fso would agree interest rate quoted is indeed unclear and confusing and not what I have been charged

Thanks again

Sanj (aka Charles Anthony)

Hello darkness my old friend,
Ive come to talk with you again,
Because a vision softly creeping,
Left its seeds while I was sleeping,
And the vision that was planted in my brain
Still remains
Within the sound of silence

ilovelorrainekelly

sanjtheman

I too am surprised as to the negative response to a perfectly valid legal question. I read your question with interest as i to have a MX mortgage. Also in terms of quality of contributors you should read the replies in Advantage mortgage shock offer, where it has to be said the best reply was from luckyfool. I cant offer legal advice just opinion.

The issue is partly of interpretation of contract. The courts are full of many thousands of parties arguing over the intention of wording in contract. If the terms or conditions of a contract are unclear or vague you should seek clarification. Contract law is not simply a case of intention. If the only documentation available concerning the interest payable is the contract, this may be the only paperwork that can be interpretted. If there are pre contractual discussions, these would have a bearing on interpretation of intention.


I am curious as to your next step and any progress you have.

Ps I always challenge parking fines.

silvercar

base (as a %) + number ((1/50))x100 which equals a big percentage

((1/50))x100 = 2.

An

yway have a friend who has a degree in maths and he has asked his old professor to give us a definate answer re the equation before proceeding

I have a degree in maths but wouldn't dream of getting in touch with an old professor on this subject. Can't your friend work out fractions on their own?

sanjtheman

Thanks Lorraine - please feel free to call me Charles

I was about to post in the thread reminding the anti bullying campaigners that the most powerful man in the world is black but i thought one of the T Birders was Rush Limbaugh......re other posts just goes to show how hypocrisy (she does lead vocals in the pretenders).... no goats got kidnapped here did they ?

Anyway I never mentioned the B (codeword TB's) word but also work for one in commercial property......every facility letter is prepared by external solicitors to ensure if anything goes wrong (with borrower or sell down) they are liable not the B......

So I do know they can't get away with ambigous FL but wanted to see if there was case law precedent and I know other ME borrowers will have had the same error......

Will update progress in the thread......

CA somewhere

PS you do know by challenging car parking fines, you will go to hell and return as a Demon only for Sam and Dean Winchester to chase you

sanjtheman

Ah grasshopper If only I knew I was takling to the reincarnation of Ramnujan

He works in a Indian restuarant at the mo as a waiter (t birds if u want a nice meal - let me know I will ask him to prepare something nice for u) and his confidence is a bit low

nw_man

Sanj, you may have a personality disorder.

May I recommend a shrink ?

sanjtheman

ugliness and inbreeding on the other hand is more difficult to cure......

thought you were hiding under a stone with your noble prize for mathematics friends ?..........

opinions4u

I have a degree in maths but wouldn't dream of getting in touch with an old professor on this subject. Can't your friend work out fractions on their own?

Possibly the highlight of what has been an admittedly dour day!

nw_man

sanjtheman wrote: »

ugliness and inbreeding on the other hand is more difficult to cure......

thought you were hiding under a stone with your noble prize for mathematics friends ?..........

I'm not into hiding under stones.

Trying a battle of wits with an unarmed man... now thats more like it :rotfl:

luckyfool

nw_man wrote: »

I'm not into hiding under stones.

Trying a battle of wits with an unarmed man... now thats more like it :rotfl:

That reminds me of : http://tr.im/mmxf