This year, the CFT Clinic was solicited by two attorneys in Concord, North Carolina, to write an amicus brief in a case before the North Carolina Supreme Court. The case involved a mortgage transaction in which misrepresentations on the part of the mortgage agent caused the plaintiffs to incur nearly $200,000 in personal liability on a debt they would not otherwise have entered into. Plaintiffs sought damages for breach of fiduciary duty and negligent misrepresentation. These claims are rather tricky, because previous cases have interpreted existing N.C. common law as if it is impossible to impose this duty on a mortgage creditor, when the law actually says merely that it is not common to do so.
Read More... (Prof. Laura Britton and CFT Clinic Students File Amicus Brief in N.C. Supreme Court Case)
Posted by Laura Collins Britton on Fri. June 13, 2014 4:42 PM
Categories: Consumer Financial Transactions Clinic