Practice point: An arm's length borrower-lender relationship is not confidential or fiduciary in nature, and does not support a cause of action for negligent misrepresentation.
Practitioners should note that liability for negligent misrepresentation will be imposed only on those persons who possess unique or specialized expertise, or who are in a special position of confidence and trust with the injured party.
Case: Dobroshi v. Bank of Am., N.A., NY Slip Op 06382 (1st Dept. 2009)
The opinion is here.
Monday’s issue: Labor Law.
