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Homework answers / question archive / Mr and Mrs X, an elderly couple who spoke little English, were asked by their daughter to mortgage their property to a local bank as a guarantee for the debts that she owed in her business

Mr and Mrs X, an elderly couple who spoke little English, were asked by their daughter to mortgage their property to a local bank as a guarantee for the debts that she owed in her business

Law

Mr and Mrs X, an elderly couple who spoke little English, were asked

by their daughter to mortgage their property to a local bank as a guarantee for the debts that she owed in her business. Mr and Mrs X agreed, believing that their daughter's business was successful and that their liability would be limited to $30,000. However, they were wrong on both counts. UOW Law 960 Legal Studies for Professionals 2020 Tri2 The bank manager took the mortgage and guarantee documents to Mr and Mrs X to sign. The manager did not explain the documents to them, nor did he check to see if they understood the risk and liability they were assuming. Mr and Mrs Amadio signed the documents without reading them. When their daughter defaulted on her loans, the bank sought to enforce the mortgage and guarantee over Mr and Mrs X's property. Can the bank do that? Please advise.

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