Sack

FACTS

In their respective appellate briefs, the parties rely on the trial court’s comprehensive summary of facts contained in the final statement of decision. We therefore rely on, and where indicated, quote the portions of the court’s summary of facts 3 that are relevant to the issues presented in this appeal. I.

THE SEPTEMBER 2014 LOAN AND PROMISSORY NOTE

In September 2014, PCC, a family owned general contracting company, was in severe financial distress. PCC’s owner and CEO at the time, Pinner and its then CFO, Griffin, discussed asking Sack, who was Pinner’s best friend for more than 50 4 years, and Griffin’s predecessor as PCC’s CFO, to loan $2 million to help PCC. “Sack prepared a written promissory note to memorialize the loan. But Pinner was concerned that disclosing the existence of such a large indebtedness to PCC’s banks and sureties would have reduced PCC’s borrowing and bonding capability, which

3 In their opening brief, Griffin and PCC state: “The facts the trial court found and the legal conclusions it reached were hotly contested leading up to and throughout the trial. Although Appellants offered evidence and argument contrary to the trial court’s factual…