COMMERCIAL LAW ASSIGNMENT HELP
Dollar & Sense Finance Ltd. (D & S) is finance company based out of Auckland, New Zealand. D & S registered the property interest of a residential property at Kerikeri belonging to Rodney Nathan’s parents. The jointly held property of Rodney Nathan’s parents was considered by D & S as a security against the loan provided to Rodney for an amount of $245,000. Since, the residential property was jointly owned by Rodney’s parent, Mr. and Mrs. Nathan, to execute a memorandum of mortgage to D & S over that property, Mrs. Nathan signature of approval was needed for disbursement of the loan.
To legally bind Mr. and Mrs. Nathan in the mortgage of their residential property in exchange for loan disbursement of Rodney Nathan, the D & S solicitor, Mr. Thomas arranged for the requisite documents to be delivered to Rodney Nathan for Mr. and Mrs. Nathan’s signature. Not knowing that Mr. and Mrs. Nathan have been separated for years and Mrs. Nathan at that point of time resides in Gisborne, Mr. Thomas delivered the documents with a belief that both of them resides in Kerikeri.