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Federal Courts -
8th Circuit Court of Appeals - April 28, 2006
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Cordry v. Vanderbilt Mortg. & Fin., Inc., No. 05-2778,
UNITED STATES COURT OF APPEALS FOR THE EIGHTH CIRCUIT, April 28, 2006, Filed
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Overview: Parties are generally free to contract as they wish, and courts will enforce contracts according to their plain meaning, unless induced by fraud, duress, or undue influence. By its plain language, an addendum provided the lender discretion to lend less than 60 or 65 percent of the "NADA" value on any given used home. The lender did not breach it.
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