TD Bank collateral mortgage

Topics: Credit card, Credit history, Mortgage Pages: 26 (9483 words) Published: February 2, 2014
Term paper
TD Bank-Collateral Mortgage

Course: BUSI2601D
Instructor: J.L. Levasseur
CUID: 100857079
Name: Daxia Shao
Due Date: April 10th, 2013
Table of Content: Business Law term paper.

·Introduction
1.1 Objectives----------------------------------------------------------------------------- ------------------------------------------------------------------------------------------p1 1.2 Methodology--------------------------------------------------------------------------- ------------------------------------------------------------------------------------------p5 1.3 Ethical Issues--------------------------------------------------------------------------- ------------------------------------------------------------------------------------------p9 1.4 Business Relationship---------------------------------------------------------------- ----------------------------------------------------------------------------------------p13 ·Clauses of Agreement

2.1 purpose of Clause--------------------------------------------------------------------- ----------------------------------------------------------------------------------------P18 2.2 Consequence of Clause-------------------------------------------------------------- ----------------------------------------------------------------------------------------p20 2.3 Explanation of Clause----------------------------------------------------------------- ----------------------------------------------------------------------------------------p22 ·Notion of legal Principle

3.1 Definition of principles--------------------------------------------------------------- ----------------------------------------------------------------------------------------p24 3.2 Where do we find principles in agreement? ----------------------------------- ----------------------------------------------------------------------------------------p32 ·Corrective measures and recommendations

4.1 Unfair, misunderstood clauses----------------------------------------------------- ----------------------------------------------------------------------------------------p41 4.2 Proposed re written clauses-------------------------------------------------------- ----------------------------------------------------------------------------------------p42 ·Scenario

5.1 Applied default class------------------------------------------------------------------ ----------------------------------------------------------------------------------------p43 ·Conclusion

6.1 Leanings--------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------p45 6.2 Benefits---------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------p47

Part I -Introduction
1.1 Objectives
The agreement that I used is Ontario Collateral revised in April 2009. This mortgage transaction acts on behalf of The Toronto-Dominion Bank. What is Collateral Mortgage? Collateral mortgages are used to give consumers the ability to finance real estate and own homes. Collateral mortgages can vary in type, but generally, they define a loan that uses a piece of real estate to secure funds. Why are we doing this paper? This topic can be viewed from two aspects: staff in bank and clients of bank. On the first hand, most of students in Business Law class are concentrated in commerce, and will get jobs related to business. For instance, as the Bank’s legal counsel, we should ensure that all of the Bank’s interests as Mortgagee are effective and appropriately secured. We are required to ensure that the Mortgage is prepared according to this Instruction letter. We have the responsibility...
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