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State Courts -
Massachusetts - May 31 - June 4, 2007
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Patel v. Amresco SBA Holdings, Inc., No. 05-P-1867,
APPEALS COURT OF MASSACHUSETTS, May 31, 2007, Decided
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Overview: As a guarantor's obligation on a note became a "debt contracted" within the meaning of Mass. Gen. Laws Ann. ch. 188, § 1(2), when the maker defaulted, which occurred two years before the guarantor's recording of homestead protection on his property, that property was not subject to a homestead exemption under Mass. Gen. Laws Ann. ch. 188, § 1A.
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Imprimis Investors, LLC v. KPMG Peat Marwick LLP, No. 05-P-1462,
APPEALS COURT OF MASSACHUSETTS, June 4, 2007, Decided
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Overview: Investors' claim under Mass. Gen. Laws ch. 93A, § 11, against independent auditor of a company that became insolvent was properly dismissed, as investors had no contract or business relationship with the auditor, which played no active role in the investors' loan to company, and investors did not rely on auditor's report in funding the loan.
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