The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Smiling Bob who wrote (104089)	2/8/2008 4:55:19 PM
From: Peter V	Read Replies (1) of 306849

"I believe there's a basic tenet of law that supports the notion of the benefit of the doubt given to the non professional party." I believe what you are thinking of is that ambiguities in a contract are construed against the drafter. Of course, the mortgage contracts are not ambiguous, so that's not really applicable. They may be incomprehensible to a lay person, but they are not ambiguous under the law. The other concept you may be thinking about is a contract of adhesion, wherein one party has far greater bargaining power and the services are virtually indispensable, a court can hold that certain terms are invalid because they are so egregious. This applies to things like a contract you have to sign to get admitted to a hospital with a serious injury, or possibly a landlord-tenant where the tenant cannot afford to move. This doesn't really apply to a mortgage though, especially if you have yet to move into a house, and no one is holding a gun to your head to sign the mortgage contract and move in. Nor would it apply to using a credit card. If we give every J6P a pass just because they are not a lawyer, virtually no consumer contract would ever be enforceable.

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