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Home / Opinion Digests / Business Law / $1.7 million awarded on unjust enrichment claim (access required)

$1.7 million awarded on unjust enrichment claim (access required)

Where plaintiffs and defendants were guarantors of a defaulted loan, and plaintiffs funded the settlement with the lending bank, defendants are liable to plaintiffs for $1.7 million on an unjust enrichment theory. Background The Coves, the Wallens and the Blacks agreed to develop some commercial real estate. The couples formed and operated Stonecroft Business Park LLC. Stonecroft Business ...