FIRST FED. SAV. & LOAN, ETC. v. SAILBOAT KEY, INC.

No. 77-2372.

375 So.2d 625 (1979)

FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF the PALM BEACHES, Appellant, v. SAILBOAT KEY, INC., a Florida Corporation, d/b/a Sailboat Key Developers, Appellee.

District Court of Appeal of Florida, Fourth District.

October 10, 1979.


Attorney(s) appearing for the Case

Terrence J. Russell and Steven J. Gutter of Ruden, Barnett, McClosky, Schuster & Schmerer, Fort Lauderdale, for appellant.

Richard L. Lapidus, Miami, for appellee.


DOWNEY, Chief Judge.

Appellant, First Federal Savings & Loan Association of The Palm Beaches, hereafter referred to as First Federal, seeks to reverse a final judgment in favor of appellee, Sailboat Key, Inc., hereafter referred to as Sailboat, requiring First Federal to return a $70,000 standby fee paid by Sailboat in conjunction with a mortgage loan application which never reached fruition.

The issue presented...

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