Michigan High Court: Full- Credit Bid Rule Does Not Bar Breach Of Contract Claim
(May 5, 2016, 2:13 PM EDT) -- LANSING, Mich. — The Michigan Supreme Court on April 13 determined that a breach of contract claim against third-party nonborrowers is not barred by full-credit bid rules and remanded a plaintiff’s breach of contract claim to a Michigan trial court to determine if the title insurer and abstract company breached the terms of the closing instructions (Bank of America, NA v. First American Title Insurance Co., et al., No. 149599, Mich. Sup.; 2016 Mich. LEXIS 660).