Opinion ID: 1865218
Heading Depth: 1
Heading Rank: 21

Heading: Compliance with Laws; Escrow Account.

Text: The trial court, as a legal conclusion, ruled Hagen owed a duty to disclose a violation of the CAB escrow requirements on the balance sheet, and that because he did not do so, the escrow account was misleading in violation of Minn.Stat. § 80A.01(b). The court's legal conclusion is irreconcilable with its findings that Hagen had no actual knowledge of the CAB escrow requirements for public charters, and had no actual knowledge that Dittmann was in violation of any CAB rules as of the sales date. The record contains more than sufficient evidence to sustain these factual findings. Therefore, we hold the trial court improperly imposed on appellant a duty to disclose information of which he then had no knowledge.