Utah, UT asked in Business Law for Utah

Q: Is the recession of 2007/2008 qualify as a 'justifiable cause' for inability to refinance a deal?

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1 Lawyer Answer
Douglas J. Shumway
Douglas J. Shumway
  • Salt Lake City, UT
  • Licensed in Utah

A: To appropriately answer this question a lawyer would require a lot of additional information, but generally, justifiable cause is a very funny thing and rarely do two people agree on what it means without established case law that is on point. You will want to have a business lawyer take a look at the contract that you are concerned about, go over the particulars of your situation, and then he or she will give you some guidance. Most lawyers will provide free consultations so if you don't like the answer the first one gives you then you might want to go to others. Pick a lawyer that matches your style and personality so that you don't get an answer you don't like from someone you don't get on with well and then blame the attorney rather than the logic. The foregoing answer is provided by Douglas J Shumway, Esq.: (801) 478-8080. The answer provided is not intended to form an attorney client relationship and should not be construed as legal advice. Mr. Shumway is licensed only in Utah. Mr. Shumway's law firm has offices in Salt Lake City, San Antonio and Las Vegas.

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