Consumer complaint received 2024-10-15
Product: Credit card — General-purpose credit card or charge card
Issue: Getting a credit card — Application denied
Company: JPMORGAN CHASE & CO. (NH)

REGARDING : Alleged Denial of Access to Credits Held in Trust Notice to Agent is Notice to Principal, Notice to Principal is Notice to Agent Dear Trustees and Principals, Thank you for your response regarding my request for access to the credits held in the trust of which I am the beneficiary. I acknowledge your decision to deny access to the credits requested. I am conditionally accepting this offer, subject to the terms outlined below.

In accordance with the Uniform Commercial Code ( UCC ) and the fiduciary duties imposed by trust law, I granted you trusteeship over the trust when I applied as a beneficiary to access the credits. As trustees, you are required to act in my best interest. By denying access to these credits, you have violated your fiduciary responsibility, which may constitute trust fraud and malfeasance under both common law principles and commercial statutes. No dispute is current or active regarding your offer ; acceptance is contingent on the conditions in this affidavit.

Be It Known : This " Conditional Acceptance '' establishes a common law contract between us under the Postal Rule, which states : " The mailbox rule ( also known as the postal rule or deposited acceptance rule ) is a principle of common law that determines the timing of acceptance of an offer when mail is used as the medium of communication. Under this rule, a contract is formed when a properly prepaid and addressed letter of acceptance is posted, regardless of whether it is actually received by the offeror. '' Consideration - XXXX 's XXXX XXXX, XXXX XXXX : Consideration in contract law refers to something of legal value given in exchange for a promise. It is not to be confused with motive. Consideration can be either a benefit to the party receiving it or a detriment to the party offering it. The principle is clear that " nothing is consideration that is not regarded as such by both parties '' ( XXXX v. XXXX ). Your denial of access to the credits demonstrates a failure of consideration, where the anticipated value to the beneficiary has not materialized. 

Conditions for XXXX : XXXX. Justification of XXXX provide documented evidence explaining how your decision to deny access to the credit, as trustees, was made in my best interest. Under UCC 1-203, you are obligated to act in good faith and transparently in your dealings with me as the beneficiary.

2. Off-Ledger Balance SheetI request that you provide an off-ledger balance sheet for the trust in question. This document should prove that the denial was based on insufficient funds in the trust. Your fiduciary duty to disclose the trusts financial state is mandated under UCC 3-305 ( a ) ( 2 ).

3. Execution by CEO/CFO and NotarizationAll responses, including the requested ledger and justifications, must be signed personally by th
e CEO or CFO of your institution and notarized to ensure authenticity.

4. Alternative Condition for Immediate Credit AccessIf you fulfill my credit request by granting a {$50000.00} credit limit within the next 30 days, there will be no need for you to provide the off-ledger balance sheet or further documentation.

5. SECTION 16Note Issues ( Federal Reserve Act ) Federal Reserve notes are obligations of the United States and are accepted by all national and member banks, including your institution, for all public dues. As such, I request that you comply with your fiduciary duty under this section, ensuring that the denial of access to credits complies with federal regulations.