Pease v. Wachovia SBA Lending, Inc.

I agree with the majority’s conclusion that the Maryland Credit Agreement Act does not apply to, and therefore does not preclude, the Peases’ counterclaims of fraud, negligence, and breach of fiduciary duty, although I think its reasoning should be amplified. I disagree, however, with the majority’s holding that the use of oral statements to prove that a contract is void ab initio is barred by the Act.

I

In its holding that tort claims are not barred by the Act, the majority relies primarily on legislative history indicating that the Act was intended only to apply to bar enforcement of “(1) *233an…