The motion court erred in finding an issue of fact as to whether defendant bank's refusal to close on the loan was properly based on a reasonable reading of the environmental reports on which the loan was conditioned, or improperly based on the economic motive of avoiding a reduced profit due to the rise in interest rates subsequent to issuance of the commitment letter. No genuine issue of fact exists as to the reasonableness of defendant's reading of the reports as unsatisfactory...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
