Facts

Plaintiffs William Lee and Angela Quon filed suit against Joseph Lee.

PLAINTIFF'S CONTENTIONS:
Plaintiffs claimed defendant Joseph Lee committed forgery. Plaintiffs claimed they did not give Lee consent to sign plaintiffs' name to personal guaranties. Plaintiff claimed that guaranties, within the statute of frauds and equal dignities rule, required that authority to execute had to be in writing.

DEFENDANT'S CONTENTIONS:
Lee alleged he had oral authority to sign plaintiff's name to personal guaranties. Disputed whether plaintiff consented. Defendants claimed the guaranties were not in the statute of frauds, therefore the equal dignities rule was not applicable. Also the rule was not applicable between the principal and agent.

Damages

Defendants East West Bank and Wells Fargo Bank National Association never foreclosed since obligations were current and adequately secured by real property.

Result

The court found in favor of defendants, finding that plaintiff's conversion claim was barred by the statute of limitations, and plaintiff's fraud claim boiled down to consent and plaintiffs suffered no damages.

Other Information

FILING DATE: Jan. 16, 2014.

Deliberation

two hours

Length

five days