Opinion ID: 449209
Heading Depth: 1
Heading Rank: 3

Heading: Whether an Accounting was Warranted

Text: 37 Omni sought an accounting for the $212,000 it advanced to Chedd-Angier under the December 8 agreement. The trial court rejected Omni's counterclaim concluding that the parties were connected only in an arms-length business relationship and not in a fiduciary relationship. Under Massachusetts law, an equitable accounting is available only if there exists a fiduciary or trust relationship between the parties, Ball v. Harrison, 314 Mass. 390, 50 N.E.2d 31 (1943), and we see nothing in the record to indicate that the commercial relationship between Omni and Chedd-Angier was transformed into one which was fiduciary in nature. See Broomfield v. Kosow, 349 Mass. 749, 212 N.E.2d 556 (1965). Accordingly, we agree with the district court that there was not that degree of overbearance or ... inequity of positions between the parties or sufficient evidence of misappropriation of any funds to require an accounting in this instance.