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IN RE LEDFORD

Nos. 91-5594, 91-5649.

970 F.2d 1556 (1992)

In re Thomas E. LEDFORD and J. Gregg Sikes, Debtors. BancBOSTON MORTGAGE CORPORATION, Plaintiff-Appellee, v. Thomas E. LEDFORD (91-5649); J. Gregg Sikes (91-5594), Defendants-Appellants.

United States Court of Appeals, Sixth Circuit.

Decided July 31, 1992.

Rehearing and Rehearing Denied September 17, 1992.

Attorney(s) appearing for the Case

Paul S. Davidson (argued and briefed), D. Reed Houk (briefed), Stokes & Bartholomew, Nashville, Tenn., for plaintiff-appellee.

Joseph P. Rusnak, Tune, Entrekin & White, William Caldwell Hancock (argued and briefed), Paul E. Jennings (argued and briefed), Nashville, Tenn., for defendants-appellants.

Before: KEITH and NELSON, Circuit Judges; and TIMBERS, Senior Circuit Judge.

Rehearing and Rehearing En Banc Denied September 17, 1992.

DAVID A. NELSON, Circuit Judge.

This is a bankruptcy case that involves the dischargeability of bank debt incurred by a partnership to build a condominium project. After the bank had advanced the loan proceeds to the partnership in apparent reliance on the existence of a specified number of contracts for the purchase of individual condominium units, it turned out that the character of the contracts...

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