Miles v. Perpetual Savings & Loan Co.

The essence of appellant’s first proposition of law is that where a real estate vendee’s lending institution requires an inspection, which informs the institution of a termite infestation, and the institution exclusively controls the closing documents and proceedings, a duty to disclose the fact of the infestation rests solely with the lending institution and not with the vendor’s real estate agent.*

One of the interests protected by the law of deceit is “the interest in formulating business judgments without being misled by others * * *” into making unwise decisions which result in financial…