Wembelton Development Co. v. Travelers Insurance

Defendant Travelers Insurance Company (hereinafter "Travelers”) appeals as of right from the decision of the trial judge sitting as trier of fact holding plaintiff Wembelton Development Company (hereinafter "Wembelton”) entitled to judgment in the amount of $6,000.

The pertinent facts in this case appear as follows: Plaintiff land developer on March 25, 1965, borrowed the sum of $260,000 (a land-development loan) 1 from defendant insurance company and contemporaneously executed a note, a mortgage on 40 lots to secure the loan, and a document entitled "Supplemental Agreement”. 2 Pursuant to the…