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D'AUBIN v. MAURONER-CRADDOCK, INC.

No. 51782.

263 So.2d 317 (1972)

262 La. 350

William D'AUBIN et ux., Plaintiffs-Appellees-Relators, v. MAURONER-CRADDOCK, INC., et al., Defendants (Royal American Life Insurance Company, Defendant - Appellant - Respondent).

Supreme Court of Louisiana.

Rehearing Denied June 29, 1972.

Attorney(s) appearing for the Case

Joshua A. Tilton, Riley & Wood, Kenney L. Riley, Baton Rouge, for plaintiffs-applicants.

McCollister, Belcher, McCleary & Fazio, Fred H. Belcher, Jr., Baton Rouge, for defendant-respondent.

TATE, Justice.

This suit arises from a construction loan agreement. Under its terms the lender (Royal American) agreed to advance $31,900 to the borrower-owner (William D'Aubin) for the construction of a residence on his property by the contractor (Mauroner-Craddock, Inc.). However, the money advanced to the contractor was not used by it to pay off construction debts, so that the owner was forced to pay off liens exceeding seven thousand dollars against his property...

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