Lenders' Liability Claim Law and Legal Definition
Lenders' liability claim is defined as "a demand or proceeding for a wrongful act concerning an extension by the Company of credit, an actual or alleged failure or refusal by the Company to extend credit; or an actual or alleged agreement by the Company to extend credit." [Southwest Ga. Fin. Corp. v. Colonial Am. Cas. & Sur. Co., 2010 U.S. App. LEXIS 19824, 12-13 (11th Cir. 2010)].