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TexLaw, Attorney
Category: Legal
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Experience:  Lead trial/International commercial attorney licensed 11 yrs
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Can a company that finances automobiles include the right to

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Can a company that finances automobiles include the right to cure in the initial loan agreement?

Thank you for your question. My understanding is that the financing company has a provision in a contract which allows it to cure any non-conforming provision in the initial loan agreement. This would technically be an amendment to the initial loan agreement, and would be allowed in certain circumstances. The first issue that comes to mind is whether mutual assent is required. In other words, when the financing company is providing you with the new paper work, do you have a chance to sign it and agree to it? Or is it that you signed the initial loan agreement, and then the financing company has sent you documentation showing that they are actually using different terms than what you originally agreed to?

Without knowing the exact language in the contract you are referring to, it is difficult to give you a more detailed answer.

I look forward to hearing back from you.

Best Regards,
Zachary D. Norris
TexLaw and 7 other Legal Specialists are ready to help you

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