Izadi

INTRODUCTION

Appellants purchased a coin-operated laundry business and secured a loan to buy new equipment for it. When the business failed, the appellants filed suit against the seller, brokers, and lender, alleging that they had misrepresented the income generated by the laundry and breached their respective duties. The lender separately filed suit against appellants to recover the amount due on the loan. The cases were consolidated and tried to the court over a ten-day trial. The trial court found against appellants on their affirmative claims, as well as the lender’s claims against them. On appeal, appellants challenge certain aspects of the trial court’s ruling as to the brokers and the lender, alleging the trial court misapprehended the scope of the duties owed by those parties in the transactions. We affirm.

FACTUAL AND PROCEDURAL BACKGROUND

I. Background Facts1

This matter arises from the sale of Scotty’s Coin Op Laundry Inc., a coin-operated laundry business. Mahvash May Rahmanian (Rahmanian) originally purchased the business in 2010. She operated the laundry for several years without keeping “books” for the business and depositing only a small percentage of the…