IJJ Corp (IJJP)

[hawkeye612]

CONDITIONAL LOAN ANALOGY:

I have personally signed many loans in business and they are as Miami said conditional until money has changed hands.

For example if I came to you John Smith and asked you for a 10k loan and we drew up a contract, dotted the i's crossed the t's had it notorized now we have an agreement. But what if you dont have the 10k in your hip pocket? Is the loan in effect? Of course not! It is conditional on the premise that you are going to transfer the 10k in my bank account.
Every contract or loan is conditional until money has changed hands. In this case we are talking 10 million dollars so undoubtably it could take a week or even up to a month for the funds to transfer. That is quite common, when I signed a letter of intent to sell my company to a publicly held company the terminalogy of the the agreement was CONDITIONAL!! Based on the funds transferring into my account!