[Download] "Nymark V. Heart Federal Savings & Loan Association" by Third Appellate District Court of Appeal of California " Book PDF Kindle ePub Free
eBook details
- Title: Nymark V. Heart Federal Savings & Loan Association
- Author : Third Appellate District Court of Appeal of California
- Release Date : January 27, 1991
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 77 KB
Description
Plaintiff, Hans S. Nymark, appeals from the judgment entered in favor of defendant, Heart Federal Savings & Loan Association, after the trial court granted defendant's motion for summary judgment in this action to recover damages allegedly resulting from defendant's negligence in appraising plaintiff's property in connection with his application for a loan from defendant to refinance the purchase money mortgage on the property. We agree with the trial court that a financial institution acting within the scope of its conventional activities as a lender of money owes no duty of care to a borrower in preparing an appraisal of the security for a loan when the purpose of the appraisal simply is to protect the lender by satisfying it that the collateral provides adequate security for the loan. Accordingly, we shall affirm the judgment.