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KENNEDY ASSOCIATES, INC. v. FISCHER

Nos. 6697, 6753.

667 P.2d 174 (1983)

KENNEDY ASSOCIATES, INC., Alaska Carpenters Retirement Plan, Alaska Hotel and Restaurant Employees Pension Trust, and Alaska Plumbing and Pipefitting Industry Pension Trust Fund, Appellants, v. Richard FISCHER, Appellee.

Supreme Court of Alaska.

July 15, 1983.

Attorney(s) appearing for the Case

J.L. McCarrey, III, and William Grant Stewart, McCarrey & McCarrey, Anchorage, for appellants.

M.P. Evans, Dickson, Evans & Esch, Anchorage, for appellee.

Before BURKE, C.J., RABINOWITZ, MATTHEWS and COMPTON, JJ., and HODGES, Superior Court Judge.

OPINION

RABINOWITZ, Justice.

This appeal arises from a real estate loan agreement entered into by Kennedy Associates, Inc. (Kennedy), and Richard and Teri Fischer (Fischer). In March 1980, Kennedy, an investment advisor representing several pension trusts, issued a commitment to participate as lead lender in a long-term $1.25 million loan to Fischer on commercial rental property in Anchorage. Shortly thereafter, Kennedy notified the joint lender, Alaska...

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