The plaintiff bank brought a motion for summary judgment against a corporate borrower and its personal guarantor after the borrower defaulted on a $100,000 loan.
The defendants argued the bank breached its duty of good faith and fiduciary duty by failing to explain the loan terms and by calling the loan despite the borrower bringing arrears current.
The court granted summary judgment, finding no fiduciary duty existed, the bank acted reasonably and in good faith in exercising its contractual rights after reviewing the borrower's financial disclosure, and there was no genuine issue requiring a trial.