In CASE 23.1 Tufankujian v. Rockland Trust Co (2003) Tufankujian signed a contract to acquire a Toyota dealership for $1.4 million. Rockland agreed to lend Tufankujian $700,000 at 7.5% interest, with the remaining $700,000 to come from the SBA at a separate interest rate which was quoted by Rockland at 6.5% (but with no written guaranty). Ultimately, the loan was not consummated and Tufankujian
sued. How did the court rule?
a. The court dismissed Tufankujian's claims.
b. The court held Tufankujian breached his duty of good faith and fair dealing and awarded damages to Rockland.
c. The court held Rockland had committed fraud but only awarded Tufankujian nominal damages of $1.
d. The court held Rockland breached its duty of good faith and fair dealing and awarded damages to Tufankujian.
d
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