Maryland | Business Law
Legal Question
Establishment of fiduciary relationship
I was referred to a contractor via a 3rd party to get an estimate on clean-up(demolition) costs on a piece of property I intended to purchase. The contractor met me on the property and asked me numerous questions about the property, including how much I was going to bid. I answered his questions. He then promised me a quote on the clean-up costs by that evening. He never said he was then going to bid on the property himself. As a matter of fact during continuous phone calls to him he just said "he was delayed but would get the bid to me soon." The property was under a sealed bid process that was only 5 days in length so time was of the essence. Ultimately, the contractor got the property just slightly over my bid amount. Did he violate a fiduciary relationship? What case law could be cited?
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Read More Answered By: J Stephen Simms |
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