Appellants, as sellers, executed an option agreement for the sale of a parcel of land for $12,000. The purchasers exercised the option, and paid $1,000 of the price. The purchasers had obtained from respondent, a mortgage servicing corporation engaged in the business of taking and selling marketable first mortgages, a commitment to loan, pursuant to a building loan agreement, the sum of $24,000 to be secured by a mortgage of the premises and to be advanced in installments...
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