Sumitomo Bank v. Taurus Developers, Inc.

Opinion

WORK, J.

The Sumitomo Bank of California (Bank or Sumitomo) appeals from a judgment of dismissal after demurrers were sustained without leave to amend on its causes of action against Taurus Developers, Inc. We affirm the portion of the judgment dismissing the causes of action for breach of contract, bad faith waste, fraud, and violations of the Business and Professions Code, since they are barred under the full credit bid rule; and for strict liability since it is not applicable to a lender in a real estate transaction who purchases a defective construction project. We reverse the…