Question
Nicholas Bobos hired John Soros, a general contractor, to build a restaurant for him. Bobos signed a loan agreement with Bank of America requiring Bank
Nicholas Bobos hired John Soros, a general contractor, to build a restaurant for him. Bobos signed a loan agreement with Bank of America requiring Bank of America to provide the construction funds to build the restaurant. This standard loan agreement provided that the bank will provide periodic payments Bobos at different stages of the construction project when requested by Bobos. Some problems occurred during the construction and Bobos failed to make payments to Soros for work already completed. Soros sued for breach of contract Bank of America directly to collect the unpaid debt. Is Soros lawsuit appropriate against Ban of America? Why or why not? See the cases Sofias v. Bank of America, 172 Cal.App.3d. 583, 218 Cal. Reptr.388, 1985 Cal. App. Lexis 2445 (Cal. App)
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