Examples of Legal Uses
Examples of legal straw purchases would be purchasing an automobile for another who cannot purchase it themselves due to poor credit or purchasing groceries for a senior citizen who is unable to go to a supermarket themselves because of poor health. Obtaining loans through a straw buyer is legal except when the agent and ultimate user of the funds defraud the bank or when the loan terms expressly prohibit use of an agent to obtain funds.
Read more about this topic: Straw Purchase
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