We disagree very strongly about that, scaredy. What Brian’s proposing would absolutely mean that contracts are meaningless. Most contracts relate to transactions of some sort (feel free to correct me here, as you’re the attorney), and saying that one party doesn’t have the obligation to fulfill their end of the deal, or that it should be easy for them to get out of it, makes the contract meaningless.
Also, bankruptcy is NOT foreseeable in most cases. If it were, most lenders wouldn’t make these loans.
If people thought that the credit market was “tight” during the financial crisis, I can assure you that it would be even worse if we were to follow Brian’s advice.
