United States Eighth Circuit
Mitec Ptnrs., LLC v. U.S. Bank Nat'l. Assn., 09-1706
In an action alleging fraud and negligent misrepresentation based on defendant's failure to disclose a lienholder agreement with the Small Business Administration before selling certain loans to plaintiff, summary judgment for defendant is affirmed where: 1) plaintiff presented no evidence that defendant's implied representation, not apparent from the face of the letter of intent, was false when made, much less knowingly false; 2) plaintiff's alleged reliance on defendant's representations was not justified; and 3) the alleged misrepresentation concerned information incidental to the underlying financial transaction.
Appellate Information
- Decided 05/24/2010
- Published 05/24/2010
Judges
- LOKEN, Chief Judge., Before LOKEN, Chief Judge,COLLOTON and GRUENDER, Circuit Judges.
Court
- United States Eighth Circuit