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FIRST PRUDENTIAL CORP. v. HOSPITAL MORTG. GROUP

No. 79-1978.

390 So.2d 767 (1980)

FIRST PRUDENTIAL DEVELOPMENT CORP., Etc., et al., Appellants, v. HOSPITAL MORTGAGE GROUP, a Trust, Appellee.

District Court of Appeal of Florida, Third District.

As Amended On Denial of Rehearing December 17, 1980.

Attorney(s) appearing for the Case

John H. Lewis, Mann, Dady, Corrigan, Baron & Zelman, Miami, for appellants.

Malspeis, Lococo, Brown & Schwartz and Morton P. Brown, North Miami, for appellee.

Before HENDRY, SCHWARTZ and NESBITT, JJ.

HENDRY, Judge.

Appellants are real estate developers; appellee is in the business of lending money. In late 1973, negotiations between the two interests culminated in a contract by which appellee committed itself until December 12 of that year, to finance construction of two motels for which appellants had located a lessee. Appellee's obligation was preconditioned upon appellants' provision of certain documentation regarding the planned construction.

The December...

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