ipso facto

TRfromillino

Senior Member

Bankruptcy Newbie

Joined: Feb 2013

Posts: 169

State: Illinois
#1

ipso facto

02-23-2013, 04:34 PM

Did a lot of reading today and came across the work 'ipso facto' several times. I believe I have that type of clause in mortgage, as many do. Can someone explain this to me in english so that I can understand it better? And how it might affect my Chapter 7 and no reaffirmation? I am current on my mortgage, no defaults there...
Tags: None
Logan

Senior Member

Bankruptcy Tutor

Joined: May 2007

Posts: 1452

State: New Hampshire
#2

02-23-2013, 04:46 PM

Are "Termination On Bankruptcy" Contract Clauses Enforceable?

http://bankruptcy.cooley.com/2007/09/articles/business-bankruptcy-issues/are-termination-on-bankruptcy-contract-clauses-enforceable/

Practically every contract has a provision that makes the bankruptcy or insolvency of one contracting party a trigger for the other party to
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