Mariani

J.Plaintiffs David W. Mariani, Herbert R. Benham, Jr., and the David W. Mariani Investment Partnership (Mariam Investment Partnership) (appellants) appeal from a judgment entered in favor of respondent Price Waterhouse. The cause below arose from appellants’ assertion that respondent allegedly misrepresented the financial condition of a corporation whose debts appellants guaranteed. As to two counts, the trial court sustained respondent’s demurrer without leave to amend; as to the remaining counts, the court granted summary judgment for respondent. We affirm the judgment.

Facts and Procedural History

American Western Banker (AWB) is a California leasing corporation organized in 1979. As relevant here, AWB served agricultural customers who wanted to lease equipment, such as tractors, or fixtures, such as irrigation systems and silos. AWB borrowed money from commercial banks to purchase the equipment or fixtures, then leased the item to its customer. AWB either held the lease in its own portfolio or assigned the lease to the lender bank, normally with recourse against AWB. Because of the high cost of the money available to AWB, its customers tended to be marginal…