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ST. JOSEPH PRO. BLDG. CO. v. NEW YORK LIFE INS. CO.

No. 308.

449 S.W.2d 848 (1970)

ST. JOSEPH PROFESSIONAL BUILDING COMPANY, Appellant, v. NEW YORK LIFE INSURANCE COMPANY, Appellee.

Court of Civil Appeals of Texas, Houston (14th Dist.).

Rehearing Denied February 4, 1970.

Attorney(s) appearing for the Case

John J. Browne, Browne & Moore, Houston, for appellant.

Jarrell D. McDaniel, Vinson, Elkins, Searls & Connally, Houston, for appellee.

TUNKS, Chief Justice.

This is an appeal from a summary judgment.

On October 29, 1962, St. Joseph Professional Building Corporation, appellant, and New York Life Insurance Company, appellee, entered into a contract pursuant to which appellee made a commitment to lend appellant $3,600,000 as the long term financing for the construction of a building. An agreement was made with the National Bank of Commerce for the interim financing of the construction. By the...

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