Charles Walker v. Bank of America, N. A. et al

Plaintiff submitted the winning bid for the purchase of improved real property from Defendant Bank at auction. Plaintiff and Bank executed a purchase agreement and Plaintiff paid earnest money. Before the scheduled closing date, Bank informed Plaintiff that it did not own part of the real property advertised for auction. It offered to sell Plaintiff the unimproved parcel for the contract amount or to terminate the contract. After Plaintiff informed Bank’s closing agent that he intended to close on the entire parcel as advertised for auction, Bank returned Plaintiff’s earnest money and terminated the contract. Plaintiff filed an action alleging intentional misrepresentation, negligent misrepresentation, and violation of the Tennessee Consumer Protection Act against Bank and the auction company. The trial court granted Bank’s motion to dismiss and granted the auction company’s motion for a judgment on the pleadings. We affirm the decision of the trial court and remand.