CAPITOL S & L ASS'N v. PRZYBYLOWICZ

Docket No. 29770.

83 Mich. App. 404 (1978)

268 N.W.2d 662

CAPITOL SAVINGS & LOAN ASSOCIATION v. PRZYBYLOWICZ

Michigan Court of Appeals.

Decided May 22, 1978.


Attorney(s) appearing for the Case

Milton F. Cooney, for plaintiff.

Yuille, Zeleznik, Plourde & Russell, for defendants.

Before: D.E. HOLBROOK, JR., P.J., and ALLEN and D.R. FREEMAN, JJ.


D.E. HOLBROOK, JR., P.J.

In this case we must make the difficult choice of allocating a loss between an innocent party and a party who made an innocent mistake.

There is no dispute about the basic facts. Defendants approached the plaintiff savings and loan institution about obtaining a residential mortgage loan of $34,500. Plaintiff's representative told defendants that to repay a 25-year mortgage loan at a 9% interest rate the monthly payment would be $251...

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