Double contract definition

Double contract means executing two or more purchase agreements, one of which is not made known to the prospective lender or loan funding entity.
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Double contract means two (2) or more written or unwritten contracts of sale, purchase and sale agreements, loan applications, or any other agreements, one (1) of which is not made known to the prospective loan underwriter or the loan guarantor, to enable the buyer to obtain a larger loan than the true sales price would allow, or to enable the buyer to qualify for a loan that he or she otherwise could not obtain. An agreement or loan application is not made known unless it is disclosed in writing to the prospective loan underwriter or loan guarantor.
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Double contract means two (2) or more written or unwritten con-
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More Definitions of Double contract

Double contract means two (2) or more written or unwritten contracts of
Sample 1Sample 2
Double contract means two (2) or more written or unwritten contracts of sale, purchase and sale agreements, loan applications, or any other agreements, one
Sample 1

Related to Double contract

  • sub-contract means the primary contractor’s assigning, leasing, making out work to, or employing, another person to support such primary contractor in the execution of part of a project in terms of the contract;

  • Standard Contract means a contract requiring the same entrance fee, terms, and conditions as

  • Prime Contract means the contract between LOCKHEED MARTIN and the U.S. Government or between LOCKHEED MARTIN and its higher-tier contractor who has a contract with the U.S. Government.