news snippet re loans, page-2

I've got a barrister on the case for exactly that reason. Just to illustrate my position, please read the following:

I’ve tried to explain the whole thing to my kids and it came out like this:
I signed a contract with a guy to prepare land and plant trees worth $1.0 mill to be harvested in 10 years time and to be worth $2.0 mill by then. Since I did not have the money, the guy agreed to finance the cost of the plantation and we signed an agreement. After a year I realise he has not done a thing and I tell him to cancel the contract. Then I find out that he has sold the loan contract to a bank. Now the bank calls me and demands payment of the loan amount. Interestingly, the bank only paid the timber man 38 cents/$ when they purchased the loan. They presumably also failed to check whether planting had commenced at all.

The kids understand that something is wrong….