Attorney General Opinion No. 1989-019

Résumé du livre

Promissory notes, security agreements and mortgages are not "credit agreements" within the meaning of L. 1988, ch. 55. However, the document creating the interest may become a credit agreement if, by the terms of the document, there is included a promise to lend or delay repayment of money or make some other financial accommodation. The failure to include the notice prescribed in section 2 of the act does not render a credit agreement unenforceable. However, parol evidence may be used to show that fraudulent misrepresentations were made during contract negotiations. Cited herein: K.S.A. 16-117; 16-118; 84-1-201; 84-3-104; K.S.A. 1988 Supp. 84-9-105