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Author Topic: Advice on Admissions  (Read 2155 times)
IAMfree
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« on: May 03, 2010, 06:12:07 PM »


Hi all, A little feedback on this info I received as a possible points for requests for admissions in a credit card suit. My concern is would I be compounding the case and making it more difficult than it needs to be??. The theory here seems to point to the fact that what CC companies lend is credit and nothing of actual substance, namely money is not their to lend etc. The whole "Credit River Minnesota " story kind of thing.

See what you think.
The following definitions should be used for these admissions:

CREDIT CARD ACCOUNT: as used in plaintiff's “CUSTOMER AGREEMENT” or "ACCOUNT AGREEMENT."

CREDIT: the ability to buy an item or to borrow money in return for a promise to pay later.

DEPOSITS: (i) The unpaid balance of money or its equivalent received or held by a depository institution in the usual course of business and for which it has given or is obligated to give credit, either conditionally or unconditionally, to an account, including interest credited, or which is evidenced by an instrument on which the depository institution is primarily liable: (and follow)... 12 CFR § 204.2 (e).

DEPOSITOR(S): one who makes deposits.

BANK'S MONEY: profits from business activities, retained earnings, or shareholder's equity.

NOTE: The following are for a bank.

1. Admit Plaintiff lent Defendant its own money.

ANSWER:

2. Admit Plaintiff lent Defendant depositor's money.

ANSWER:

3. Admit Plaintiff lent Defendant its credit.

ANSWER:

4. Admit Plaintiff's agreement allows Plaintiff to amend or alter its agreement.

ANSWER:

5. Admit Plaintiff's agreement allows Defendant to amend or alter its agreement.

ANSWER:

6. Admit Plaintiff shows Defendant's credit card application as an asset on its balance sheet.

ANSWER:

7. Admit a credit card is not money.

ANSWER:

8. Admit Plaintiff lent Defendant Federal Reserve Notes.

ANSWER:

9. Admit the credit card issued to Defendant remains the property of Plaintiff.

ANSWER:


Some of these seem a little over the top or maybe I'm just being too nice to PeeWee Plaintiff.
What do you think?

What I've done so far is
Received Summons from PeeWee Plantiff AMEX
Avoided answer Filed a Motion instead.
Scheduled Hearing
Preparing Requests for Production of Docs, Admissions etc.

Any advice would be appreciated.
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