Lippy v. Society National Bank

I respectfully dissent from the majority opinion in reference to the first assignment regarding the liability of Society Bank. First, I find Umbaugh Pole Bldg. Co. v. Scott (1979), 58 Ohio St.2d 282, 12 O.O.3d 279, 390 N.E.2d 320, right on point. The trial judge was correct in finding that as a matter of law, there were no facts put forth in the opening statement which created a “specific duty” and thus transformed the contemplated debtor-creditor relationship between Lippy and the bank into a fiduciary relationship.

As is pointed out in Umbaugh, the mere “rendering of advice by the creditor…