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HOLIDAY PLAZA, INC. v. FIRST FED. SAV. & LOAN

No. 14659.

285 S.E.2d 131 (1981)

HOLIDAY PLAZA, INC. v. FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF CLARKSBURG, and The Lowndes Bank.

Supreme Court of Appeals of West Virginia.

December 3, 1981.

Attorney(s) appearing for the Case

Johnson & Johnson and Charles G. Johnson, Clarksburg, for appellant.

Steptoe & Johnson and Edward W. Eardley, Charleston, Louchery & Sinsel and Charles A. Sinsel, Clarksburg, for appellees.

HARSHBARGER, Chief Justice:

Holiday Plaza needed construction and long-term loans to finance three buildings in Harrison County. The Lowndes Bank agreed to make a $450,000 construction loan if Holiday Plaza could secure its long-term financing from another lendor. On April 18, 1972, a loan commitment agreement was executed with defendant First Federal Savings and Loan1 by which Holiday Plaza...

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