Legal Question in Civil Litigation in California

Arms length transaction? Or Not?

You have a Buyer (me), Seller, Mortgage Broker, Escrow, Lender, and a Title Company. Lender and Title are stating no duty to Plaintiff due to their so called Arms length transaction. This is where I need the help. As long as the Lender and Title treated this as any other transaction during the course of the escrow, then yes the Arms Length protection would apply. However, if the lender, or any of its officers directed the Buyer by way of Escrow and Broker how to structure Secondary financing because they could not show any other financing in their file, and that direction on how to do it caused the Buyer financial hardship. In their normal course of being a whole sale lender they would not do anything but follow the industry guidlines for determining the borrowers credit worthyness and not personaly get involved with instructing/directing the parties on how to get around those guidlines. Furthermore, 8 months later they engaged in direct negotiations with the borrower to remedy the significant defects in the loan they had originated and were going to include the secondary financing at a much better rate and at no cost. Would any of this put their arms length defence in jeoprady? So I can get through the demure stages?


Asked on 6/01/08, 10:52 pm

2 Answers from Attorneys
Terry A. Nelson Nelson & Lawless

Re: Arms length transaction? Or Not?

As a pro per, you have to practice law to the same standards of knowledge as an attorney in doing pleadings, motions, depositions, evidence, hearings and trial. If you can't, then get an attorney. No one can, or will, tell you all the numerous things you need to know and do, other than a law school education and law firm training like the rest of us got. You face experienced opposition attorneys whose job it is to defeat you, and the court is not there to help you; how do you imagine you are going to succeed without a legal education? If you are serious about hiring counsel experienced in litigation, feel free to contact me for the help you clearly need, or at least to see if you actually have a meritorious case.

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Answered on 6/02/08, 3:19 pm
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: Arms length transaction? Or Not?

Here is a list of California law schools that can provide you with the legal education you seek.

http://www.calbar.ca.gov/state/calbar/calbar_generic.jsp?cid=10115&id=5128

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Answered on 6/01/08, 11:44 pm


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