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ILEX Part II Law of Contract Assignment 5
Task
Jane was widowed in 1987 and remarried in 1993. In April 1994 Jane signed a security document at the bank where she had held her account for some thirty years. The document was in fact a guarantee of the overdrafts on her husband, Ken's, business accounts. It charged the matrimonial home as security to cover his indebtedness.
The bank manager was a personal friend and Jane had always relied upon him for impartial financial advice. The bank manager said nothing at all to Jane about the document and, in particular, he did not advise her as to the effect of what she was signing. Neither did he advise her to seek independent advice.
Ken left Jane earlier this year to live with his secretary. Jane has now discovered that the bank is seeking possession of the matrimonial home because the limits on the business overdrafts have been exceeded.
Advise Jane on the following alternative defences:
(i) that she signed the security document because of undue influence by the
bank; and
(ii) that she signed because of her husband's undue influence.
(ILEx, Q6 June 1995)
Guidance
Please see me in class or e-mail me for help with this question.
Set: [date]
Due: [date]
