Law360, New York (March 02, 2012, 8:06 PM ET) -- The Virginia Supreme Court ruled Friday that a consumer real-estate law doesn't bar private actions against sureties based on the law, siding with First American Title Insurance Co. in its dispute claiming Western Surety Co. breached a $100,000 surety bond.
In response to a certified question from the Fourth Circuit, the court acknowledged that the Virginia Consumer Real Estate Settlement Protection Act only allows licensing authorities to bring actions or issue penalties specifically under that law.
However, Virginia law does allow private suits against sureties based...
Va. Real Estate Law Doesn't Bar Private Suits, Court Says
To view the full article, take a free trial now.
