LAWS 3003 Lecture Notes - Lecture 12: Unconscionability, Undue Influence, Bank Charge
Document Summary
Bundy owned a house, which was the extent of his estate. His son operated a business that did not do very well, and he asked his father to give him collateral for taking out loans from lloyds. The father signed the original collateral for a smaller amount of money after considering it overnight and talking to his lawyer. Later on, the son needed more collateral, and the only way that bundy could provide it was by using the house as collateral. When the lawyers from the bank came over with his son they explained that this was the only thing that he could do to help his son, and bundy signed the document. Five months later the bank foreclosed on the son"s assets, and as he was bankrupt they seized the house. Bundy refused to leave the house, and the bank sued to have him evicted.
