Swinton Creek Nursery v. Edisto Farm Credit, ACA
South Carolina Supreme Court
334 S.C. 469, 514 S.E.2d 126 (1999)
- Written by Sarah Hoffman, JD
Facts
Swinton Creek Nursery (Swinton) (plaintiff) borrowed money from Edisto Farm Credit, ACA (Edisto) (defendant) for a business expansion. Swinton later defaulted on the loan and attempted to sell off the business assets to pay the loan. The buyer attempted to also get a loan from Edisto for the purchase. A loan officer at Edisto told the buyer that Swinton was in financial distress and denied the loan. Swinton ended up selling the assets to the buyer for $20,000 less than had been originally agreed to. Swinton sued Edisto for invasion of privacy for discussing Swinton’s financial situation with a third party. The jury found for Swinton, and Edisto appealed. The appellate court reversed the trial court’s decision.
Rule of Law
Issue
Holding and Reasoning (Toal, J.)
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