Holding that an implied covenant "cannot be endowed with an existence independent of its contractual underpinnings. It cannot impose substantive duties or limits on the contracting parties beyond those incorporated in the specific terms of their agreement."
Holding that complaint for negligent misrepresentation in a holder action must be "pled with the same specificity required in a holder's action for fraud."
Holding that a securities "placement agent" employed by the issuing company was not liable because the issuing company did not transfer the securities to the plaintiffs
Holding that defendant attorney owed no duty to third parties who relied on faulty advice the attorney gave his clients "in the absence of any showing that the legal advice was foreseeably transmitted to or relied upon by plaintiffs or that plaintiffs were intended beneficiaries of a transaction to which the advice pertained"
125 Cal.App.4th 513 (Cal. Ct. App. 2004) Cited 232 times
Finding that for fraud, a plaintiff "must allege the specifics of his or her reliance on the misrepresentation to show a bona fide claim of actual reliance."
44 Cal.App.4th 1807 (Cal. Ct. App. 1996) Cited 137 times
Cleaning company's purchase of materials in preparation for performing contractual promise "were essential to its subsequent performance of the service agreement and therefore could not have been considered detrimental"