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JONES CO. CUSTOM HOMES v. COMMERCE BANK

No. ED 81633.

116 S.W.3d 653 (2003)

JONES COMPANY CUSTOM HOMES OF TENNESSEE, INC., Plaintiff/Respondent, v. COMMERCE BANK, N.A. and Lawyers Title Insurance Corp., Defendants, and The Carothers Development Partnership, Defendant/Appellant.

Missouri Court of Appeals, Eastern District, Division Five.

Motion for Rehearing and/or Transfer Denied September 24, 2003.

Attorney(s) appearing for the Case

Thomas E. Wack, Elizabeth C. Carver, St. Louis, MO, for appellant.

J. Vincent Keady, Jr., Barry L. Haith, St. Louis, MO, for respondent.

Motion for Rehearing and/or Transfer to Supreme Court Denied September 24, 2003.

LAWRENCE G. CRAHAN, Judge.

The Carothers Development Partnership ("Seller") appeals the judgment enjoining payment of a letter of credit in its favor. We reverse and remand.

Seller owned a 143 acre tract in Franklin, Tennessee. Seller held the property as a land speculator with the intention of ultimately selling it to a third party for development. Jones Company Custom...

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