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Re: justfrank post# 81700

Friday, 07/20/2007 3:01:34 PM

Friday, July 20, 2007 3:01:34 PM

Post# of 157299
>>it states 2 late payments would be a breach of contract

Late payments of debt or contract costs constitute a default 99% of the time unless a grace period is specified in the contract. Just because a payment is made 'eventually' does not mean that the borrower is not still in default for missing the period in which the payment was supposed to be made.

Perhaps I could borrow some money from you? I'll pay you back, it might be a few years late but it will 'eventually' be repaid. That way I won't be in default.

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