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AU Co-Signers

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AU Co-Signers

Postby Real » Mon Mar 07, 2016 10:24 am

What are the details of co-signing for someone's license with the Union?
What happens if the individual in question quits or dies in the field? Does the cosigner "steward" the business in question until an apprentice or new shopowner can be found? Or is it more "I vouch that this person is reliable and accept responsibility for their loan if they mess up"?

If you're paying off the loan for the late shopowner, do you have control over the business?

What happens if the cosigner is already a licensed Union member?

tl;dr - What are the pros/cons to cosigning for someone?
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Re: AU Co-Signers

Postby Rishte » Mon Mar 07, 2016 12:09 pm

What are the details of co-signing for someone's license with the Union? This is probably best learned ICly with a Litigant as the details wouldn't be something every character would know. As you know, when new characters come to town and haven't established themselves with society and need a Loan, Master Wheeler isn't just going to give money to a nobody. He's going to want some kind of Plan B. So in cases like that, when the character is new or not known to society as well as lack the funds for a pricey endeavor - they'll be asked to seek someone to financial back them.

What happens if the individual in question quits or dies in the field? Which individual? If the Loaner dies, well then the Loanee is required to ensure that the payment is paid to the Loaner's legal inheritor. If the Loanee dies, the License holder, then there are things that happen there and are situational based on all the various factors. There are really too many to get into specifics here.

Does the cosigner "steward" the business in question until an apprentice or new shopowner can be found? Or is it more "I vouch that this person is reliable and accept responsibility for their loan if they mess up"? The most probable thing here is that the AU would just take the shop. If there is no legal inheritor, it is AU property. You can learn about legal inheritors on the Wiki.

If you're paying off the loan for the late shopowner, do you have control over the business? No. Not likely at all.

What happens if the cosigner is already a licensed Union member?
No one can hold two Licenses.

What are the pros/cons to cosigning for someone? It boils down to money and risk. Without a legal contract documentated by a Litigant, if it is 'off the books', there really isn't any proof a deal was made which can be crappy for either side should things go south.
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