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TRUS. OF GARDEN OF PRAYER v. GERALDCO BLDRS.

No. 8518SC402.

336 S.E.2d 694 (1985)

TRUSTEES OF the GARDEN OF PRAYER BAPTIST CHURCH v. GERALDCO BUILDERS, INC., Ruby Byers and her husband, James A. Byers, William Thomas and his wife, Janet G. Thomas, Waddell Pearson and Greensboro National Bank.

Court of Appeals of North Carolina.

December 3, 1985.

Attorney(s) appearing for the Case

Smith, Patterson, Follin, Curtis, James & Harkavy by Norman B. Smith, Greensboro, for plaintiff-appellees.

Hunter, Hodgman, Greene & Donaldson by Richard M. Greene, Greensboro, for defendant-appellants.

MARTIN, Judge.

This action is the third in a series of lawsuits arising out of a contract between plaintiffs and defendant Geraldco for the construction of an addition to the Trustees' church. The contract price, including subsequent modifications, was $96,541.06. The Trustees had arranged permanent financing for the project, but were unable to arrange for a construction loan because Geraldco had no performance bond. Geraldco applied to GNB for a construction loan...

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