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China Bank granted a loan to Jao secured by a mortgage on a lot owned by Lagon. Jao claimed to have special powers of attorney to mortgage the property, but the powers of attorney and mortgages were later found to be void because they were not properly notarized as required by law. The court ruled in favor of Lagon, finding that China Bank did not exercise proper due diligence, as it should have known Lagon was not in the country to sign the documents when they were allegedly notarized. Banks have a higher

Author

lemon ade

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EN