Can a business lender in NY not wire the funds to the borrowing business after receiving the notarized closing documents?

I signed, notarized and returned the note to the lender with funds to be wired to my account within 72hrs.  It's been over a week and no funds yet.  In NY does the lender have an obligation to fund after receiving the signed note  (essentially yhe xlosing document) from the borrower or can they just arbitrarily chose not to fund?  This is a business loan.

4 Answers

  • Scott
    Lv 7
    2 months ago

    People can do whatever they want. Whether it's right or wrong, legal or illegal - may depend on laws or regulations.

  • R P
    Lv 7
    2 months ago

    You have already asked this same question twice. FYI, it is a violation of the TOS to post the same question more than once.

  • 2 months ago

    Previously asked and answered!

  • A.J.
    Lv 7
    2 months ago

    Closing documents are signed contracts. When both parties have signed, the contract is in effect. Have your lawyer review the contract.

    Consumer real estate law does not apply. This is strictly contract law.

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