Homes First v. King
Filed 3/17/06 Homes First v. King CA1/3
NOT TO BE PUBLISHED IN OFFICIAL REPORTS
California Rules of Court, rule 977(a), prohibits courts and parties from citing or relying on opinions not certified for publication or ordered published, except as specified by rule 977(b). This opinion has not been certified for publication or ordered published for purposes of rule 977.
IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA
FIRST APPELLATE DISTRICT
DIVISION THREE
| HOMES FIRST, LLC, Plaintiff and Appellant, v. GORDON KING, Defendant and Respondent. | A109060 (San Francisco County Super. Ct. No. CGC-01-402232) |
Plaintiff Homes First, LLC, appeals from an order dismissing its lawsuit against Gordon King after the superior court sustained a demurrer without leave to amend to the fourth amended complaint. Appellant challenges the dismissal of the cause of action for fraud. We conclude that although a cause of action for fraud may lie against King, it has not been adequately pleaded. Accordingly, we reverse the order of dismissal to allow plaintiff a final opportunity to allege such a claim.
FACTUAL AND PROCEDURAL BACKGROUND[1]
In June 2001, plaintiff Homes First LLC, entered into a written loan agreement with defendant Allied Boston International, Inc. (ABI), a mortgage brokerage corporation to obtain mortgage financing for a project. At that time, defendant Gordon King was an officer of ABI, and Lal Bhatia was the Chief Executive Officer of ABI.
On June 5, 2001, plaintiff received a document from ABI purporting to be a loan commitment for a $140 million loan. On June 18 or 19, 2001, a loan commitment was signed, which provided that plaintiff was to receive an initial loan sum of $6 million upon its pre-payment of a brokerage commission to ABI in the amount of .44 percent or approximately $616,000. On June 21, 2001, an addendum to the loan commitment was signed in which it was stated that the $616,000 would be refunded if the loan was not procured by ABI. â€
