"Invalid Agreements" ?

[cardiac arrest]

just wondering what, if anything, would have made an application for a credit card (for example) invalid. Like if the applicant did not complete the application details truthfully for some reason and the creditor didn't do the required checks ?

Maybe if someone under the age of 18 for example, lied about their age and this wasn't picked up through the 'checking process' carried out by the Bank....or an overstated income level to acquire a higher level of credit than would have been otherwise granted ?

Would any of the this, or indeed if an applicant was a declared bankrupt and this wasn't picked up either, have any effect on the validity of the contract ?

[Never-In-Doubt]

Re: "Invalid Agreements" ?

nope - it'd be fraud. I'd rather get a CCJ than a conviction for fraud

Not much invalidates an agreement, but things that would for example might be whereby something was sold to you that was totally unnecessary (ie a boiler service agreement when you don't have central heating).

[Never-In-Doubt]

Re: "Invalid Agreements" ?

Oh but that said, a judge could write off a debt for a number of reasons so it's not quite as simple a question as you think. Obviously that's not invalidating it but technically it is cancelling the agreement, or at least cancelling the creditors claim to any funds!

[cardiac arrest]

Re: "Invalid Agreements" ?

So, the liability rests with the applicant and not the party which 'enables' the contract ?

I know it may be a fraud case (or just an error...), but should a Bank be obliged to undertake checks before they sign their copy (theoretically). I do believe there is some wording about a checking process being undertaken, so is that actually discretionary ?

if i said 'irresponsible lending' would this fall into that category ?

It just strikes me that Banks must have obligations to meet in this process, even though we see their attention to detail often falls somewhat short on many occasions..