Is it Possible All Mortgage Contracts Are Void and Foreclosures are Invalid?

Essentially, he argued that the bank had not provided any consideration for Daly's promise to pay back the loan. Consideration is one of the requirements for a valid contract, and without it, a contract is void. Daly was arguing that the mortgage contract was void and did not need to be repaid because the bank had not actually given him any money. The lender had created the money out of thin air in response to the promise to repay the loan.

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