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ORDEN v. CRAWSHAW MORTGAGE & INVESTMENT CO.

Docket No. 56635.

109 Cal.App.3d 141 (1980)

167 Cal. Rptr. 62

TED ORDEN et al., Plaintiffs and Appellants, v. CRAWSHAW MORTGAGE & INVESTMENT COMPANY, Defendants and Respondents.

Court of Appeals of California, Second District, Division Four.

August 12, 1980.

Attorney(s) appearing for the Case

COUNSEL

Maupin, Chaum, Cutler & Teplinsky, James C. Maupin and Bonnie Pastor for Plaintiffs and Appellants.

Frederick J. Kling, Allan L. Fredland and Ken Nathanson for Defendants and Respondents.

Nossaman, Krueger & Marsh, Alvin S. Kaufer and Thomas J. Weiss as Amici Curiae.

OPINION

SAVITCH, J.*

In March 1973, Crawshaw Mortgage & Investment Company (Mortgage Company), then and now licensed as a real estate broker by the State of California, agreed to loan to Ted Orden and Hedy Orden (the Ordens) $500,000 to be disbursed periodically as construction of a supermarket on land owned by the Ordens progressed. The loan was evidenced by a promissory note (the Note) bearing interest...

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