Chapter 59:
"Co to my office..." Joegleman, who hadn't even had lunch, went straight back to his office. Compared to the stack of files in his hand, a 39 buck steak couldn't divert his attention.
Two minutes later, a middle-aged man, ticulously dressed and sporting a lawyer's badge on his chest, walked in.
Any law student who graduated from college and obtained a lawyer's qualification could possess such an "entry badge."
Although it was just an "entry badge," even the most prominent federal lawyers would also wear it every day. It was a symbol of their identity and an unconventional mark of nobility.
"Naf (), take a look at these docunts," When Joegleman left, besides voluntarily providing him with two copies of pledge agreents, Lin Qi unexpectedly prepared duplicates of other docunts as well. This action elevated Joegleman's opinion of Lin Qi.
There's a saying that rings true: everyone gets opportunities, but not everyone can grab hold of them, and not everyone's ready when they co knocking.
Most people understand that not everyone can seize opportunities. About ninety-five percent of people are still in diocrity. In their diocre lives, there are always a few opportunities to change their fate, but they just can't see or grasp them.
People get the first part, but often miss the rest. Sotis, when you take hold of an opportunity, it feels like a life-changing mont... and sotis, it truly is.
That happens when you're already geared up. Opportunities can bring wealth, status, and recognition aligned with your full potential. To those who are ready, opportunities flow like a gentle, welcoming stream.
But if you're not prepared, that opportunity can smack you like a speeding train. There are plenty of stories about people who, by 'seizing' an opportunity, ended up losing everything.
Lin Qi was prepared and able to create opportunities. Joegleman had encountered such individuals before. With his status, he had t so social elites in the local and surrounding areas. In Lin Qi, he saw shades of these people.
Ambitious, always ready (like a hunter hidden in the dark), such individuals were difficult to fail. That was why Joegleman was willing to give Lin Qi a chance.
No one would complain about having too many high-quality connections. As long as one lives in this society, this is one of the things they cannot cannot avoid.
The guy referred to as "Naf" was a mber of the legal team at GoldenExchange Bank in Sabin City. The bank dealt with a high volu of lawsuits annually, and hiring external lawyers for each case was becoming excessively costly. So, they took the initiative to train and establish an in-house team of lawyers to manage their legal matters more cost-effectively.
Naf ticulously examined the docunts, not missing a single symbol. He even took a piece of paper to note down his thoughts or mark certain sections.
After about half an hour, he breathed a sigh of relief, organized the files in the order he reviewed them, placed them on the table, and looked at Joegleman.
"Any issues with these docunts?" Joegleman took out two solid-colored, genuinely solid-colored, Colofu and handed one to Naf, who gratefully accepted it.
"No issues. This pledge agreent is based on the current loan agreent, with so additional clauses added." Answered Naf as he cut off part of the Colofu cap.
"There are two interesting clauses. The first one stipulates that if the borrower fails to repay the loan shortly after the agreent's signing, not only must they forfeit the collateral but also repay the principal and interest." A hint of an enigmatic smile appeared on his face. "Seems like a new agreent from those financial companies outside. It's sothing that they have never done in the past."
Naf's expression showed contempt for those financial companies, the sa contempt Joegleman held.
In the past, when Mr. Fox distributed aid, most people rely had to write an IOU. If it was soone from the streets, they might not even need to write one. All this changed after Lin Qi appeared.
Joegleman nodded, and Naf continued, "I noticed a line in their additional clauses...," He pointed it out for Joegleman to see. It ntioned that the agreent was signed with a third-party witness, voluntarily and without coercion. The nas of the third parties and their signatures were listed.
"This is a rather clever clause. From my perspective, it's problematic. When a person needs money, they will sign any agreent to get it."
"Legally, this situation could be considered coercion or being dominant, but paradoxically, it still holds legal validity. You can feel its conflict, contradiction, yet can't ignore it. Whoever proposed this idea is very smart."
When a person urgently needs money, they would fall into a passive and vulnerable state. Saying that they are being dominated or coerced, as Naf ntioned, isn't entirely wrong.
People in dire need of money would do anything to get it, let alone sign such a declaration. So, subjectively, this clause was clearly a cover-up to conceal the truth.
Yet, legally, it held value because judges wouldn't consider what the borrower was thinking at the ti. Lawyers wouldn't provide borrowers a chance to explain. They would only ask if soone threatened them with a knife, gun, or any other weapon, whether they were in a sound state of mind, and if they knew what they signed... and those were more than enough to validate it.
"Are you suggesting we could use this in our agreents?" Joegleman queried, to which Naf nodded. "Good, report it to the regional division and have them look into it," he paused, then added, "Carry on."
After setting aside the two pledge agreents, Naf picked up the other docunts. "These are official docunts, legally binding. However, in the clauses where Gettnau Financial entrusts Dyson Asset Managent with full authority over their assets, there are so counter-clauses..."
He then pointed out those specific clauses, providing a brief explanation. However, both of them knew that fundantally these things held no value; it was unrealistic to expect people from those financial companies to spend their days in court.
Their value lay solely in their legal validity; they lacked enforceability. Perhaps, in comparison to enforceability, the subordinates nurtured by financial companies might be more capable.
"What I an is, are Dyson Asset Managent's control and authority over these agreents and their content legal?" Joegleman asked, even though Naf had already explained earlier.
"Yes, Mr. Joegleman. Before the counter-clauses take effect, Dyson Asset Managent legally owns these 'assets.'"
Joegleman further inquired, "Including pledging these pledge agreents?" Naf paused for a mont, realizing why Joegleman, the credit departnt manager, had him look at these docunts. After a couple of seconds, he nodded. "At least, according to our state law. If you need information from other states, I can request legal aid from the branch."
Joegleman waved his hand and stood up. "No need. Thank you for taking the ti to help
look at these..."
Naf promptly stood up as well, buttoning his coat. "This is what I should do." He shook Joegleman's hand when he saw him extend his hand to him, then took his leave proactively.
After seeing Naf off, Joegleman closed the door and looked at the files on his table, revealing a slight smile.
According to Lin Qi's words, he possessed pledge loan agreents worth millions, if not countless agreents. Joegleman realized that when Lin Qi got the money, it was tantamount to Gettnau Financial getting the money.
What would a financial company do once they received money? Naturally, they would continue to aid those in need, creating a snowball effect, growing larger and larger.
By managing the risk properly, ending the authority period before the counter-clauses in the pledge agreents took effect, the bank could avoid all risks. Both Dyson Asset Managent, the middleman, and Gettnau Financial, the frontline company, would bear the risks themselves. The bank, including Lin Qi himself, faced minimal risks.
In fact, the only one truly in danger was Dyson Asset Managent. From the financial company's perspective, whether they had these agreents or not wouldn't stop them from recovering debts. But the issues within the agreents would turn them into bad debts for the asset managent company, possibly even a way for the financial company to evade taxes by hiding large sums of money!Please vote for this novel at /series/blackstone-code/
Please do not delete thisHow to find a list of chaptersPlease find the chapter label next to your favorite translator's na, and click the label.
Reviews
All reviews (0)