Pennsylvania’s Superior Court Holds That Loan Term Sheets May Be Binding Contracts
On August 20, 2013 by Schnader in schnaderfsb.comBy Stephen J. Shapiro A recent decision by Pennsylvania’s Superior Court contains a warning for lenders: loan term sheets may be binding contracts. In County Line/New Britain Realty, LP v. Harleysville National Bank and Trust Company, County Line, a real estate development partnership, sought to borrow more than $12 million from […]
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