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TAKACH v. WILLIAM HOMES, INC.

No. 82-1399.

6 Ohio St. 3d 357 (1983)

TAKACH ET AL., APPELLEES, v. WILLIAMS HOMES, INC. ET AL. CARDINAL FEDERAL SAVINGS & LOAN ASSN., APPELLANT.

Supreme Court of Ohio.

Decided August 31, 1983.

Attorney(s) appearing for the Case

Messrs. Benesch, Friedlander, Coplan & Aronoff, Mr. Edward Kancler and Mr. Kenneth A. Bravo, for appellees.

Messrs. Parks, Eisele, Bates & Wilsman, Mr. Ebert Weidner and Mr. John A. Hallbauer, for appellant.

REILLY, J.

Appellant presents this court with the following proposition of law.

"Revised Code § 1311.011 does not require a construction lender to protect the interests of a non-borrower while disbursing a borrower's loan funds."

Two loan contracts were made in this case. Appellant made a commitment to appellees for a purchase money mortgage plan and also a construction loan to Williams Homes. There is no dispute that appellant properly disbursed...

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