News & Analysis as of

Guarantor's "Sham Guaranty" Defense Harder To Prove

A recent case has reaffirmed lenders’ ability to require personal guarantees from principals of borrowing entities. In California Bank & Trust v. Lawlor, a California appellate court considered the enforceability of...more

Legal Notebook: Hunt & Hunt Lawyers v Mitchell Morgan Nominees PTY LTD (ACN 108 571 222) And ORS – High Court Appeal (Australia)

Snapshot - Readers of this journal may recall the judgment of Mitchell Morgan Nominees Pty Limited v Vella [2011] NSWCA 390, which we covered in the Legal Notebook section of the March 2012 edition. That judgment...more

New California Supreme Court Case Opens Door to Attacks on Contracts

For the past 70 years, California courts have held that a party is barred from claiming fraud based on an alleged oral misrepresentation that directly contradicts the express terms of a written agreement. This rule had long...more

Don't Panic - The Fall of Pendergrass and Restoring the Full Fraud Exception to the Parol Evidence Rule May Not Be as Bad as You...

In Riverisland Cold Storage, Inc., v. Fresno-Madera Prod. Credit Ass., S190581, the unanimous California Supreme Court recently overturned the widely criticized Pendergrass rule, thus restoring the full breadth of the fraud...more

California Supreme Court Eases Admissibility of Oral Statements in Contract Fraud Disputes

California, like most jurisdictions, prohibits parties to integrated contracts from introducing “parol evidence” — this is, evidence of prior written or verbal agreements made by a party to a contract — if those alleged...more

Promises to Keep—Lender Beware: California Supreme Court Expands Parol Evidence Fraud Exception

In 1935, the California Supreme Court in Bank of America National Trust and Savings Ass’n v. Pendergrass prohibited a borrower from introducing external or parol evidence to demonstrate fraud in connection with an agreement...more

Ninth Circuit Affirms Dismissal Of Unfair Competition Claims Over Teaser Rates

On January 9, the U.S. Court of Appeals for the Ninth Circuit affirmed a district court’s dismissal of a putative class action against a national bank over its adjustable rate mortgage disclosure and payment application....more

California Supreme Court Eliminates Lender Defense to Borrower Fraud Claims

On January 14, the California Supreme Court issued its opinion in Riverisland Cold Storage v. Fresno-Madera Production Credit Assn., which takes away a lender defense to borrower fraud claims and will therefore have a...more

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