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CHAPTER 3

THE POLICY DOCUMENTS

3.5THE PROPOSAL does NOT incorporate the Mortgage Contract Conditions
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The first paragraph on page one of the ‘Home-way Mortgage Plan’ booklet (Document 6C of Appendix 1/6) states :

‘THIS POLICY is granted by Irish Life Assurance ......... to and accepted by the Proposer(s) named in the Schedule on the basis of the Proposal ......... made in writing and signed by the Proposer(s) and on no other basis.’


This is a TWO WAY statement.


It firstly states that THE POLICY is granted by Irish Life ––– on the basis of the Proposal (see Appendix 1/4) ––– and on no other basis.


It secondly states that THE POLICY is accepted by the Proposers (in this case my wife and I) ––– on the basis of the Proposal ––– and on no other basis.


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It is therefore ‘THE PROPOSAL’, and THE PROPOSAL alone, that constitutes the Mechanism whereby the Conditions pertaining to THE POLICY are intended by Irish Life to be imposed on the Endowment Mortgage Contract.


BUT ––– there is nothing whatsoever in THE PROPOSAL that makes reference (even remotely) to any of the many onerous Conditions attached to THE POLICY, or to the Proposers’ acceptance of the said Conditions, or to the Proposers’ understanding of said Conditions.


Therefore, the various onerous Conditions attached to THE POLICY
, that (together with the Disclosures of the Proposers in ‘The Proposal’) are intended by the First National Building Society and the Irish Life Assurance Company to constitute the constraining parameters of the Endowment Mortgage Contract:–––

(a)

were not referred to or explained in any way by the First National Building Society or their ‘expert adviser’ (either in their various representations or when giving ‘expert advice’) –––––– prior to the contract.

(b)

were not referred to or explained in any way in ‘The Proposal’, which Proposal, signed by the Proposers (in this case, my wife and I), is intended by both the First National Building Society and the Irish Life Assurance Company to give effect to the Endowment Mortgage Contract.


It can only be concluded that the failure of both First National and Irish Life to disclose in any way the various onerous Conditions present in the Endowment Mortgage Contract was an Act of Deliberate Omission.

 

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