From our private database of 30,900+ case briefs...
Karoutas v. HomeFed Bank
California Court of Appeal
232 Cal. App. 3d 767, 283 Cal. Rptr. 809 (1991)
HomeFed Bank (defendant) was the successor-in-interest beneficiary under a deed of trust of property owned by Michael and Sandra Lawrence. The Lawrences defaulted on their loan, and HomeFed’s predecessor in interest initiated its power to sell the property. Before the sale, the Lawrences told HomeFed that the property had significant soil damage, which would cost more than $350,000 to repair. At the sale, HomeFed bid against George and Anastasios Karoutas (plaintiffs) for the property, but the Karoutases won the property for $155,001. The Karoutases soon discovered the significant soil damage and sued HomeFed for rescission and declaratory relief due to fraud and negligent nondisclosure. The trial court granted HomeFed’s motion to dismiss because the Karoutases could not identify a duty that required HomeFed to disclose the defects to the Karoutases. The Karoutases appealed.
Rule of Law
Holding and Reasoning (Chin, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 554,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.Unlock this case briefRead our student testimonials
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.Learn about our approachRead more about Quimbee
Here's why 554,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 30,900 briefs, keyed to 984 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.