Washington v. Independent Realty Co.

DREW, Justice.

Fred and Mary-Washington, appellants, borrowed $8,700 from Wayco, Inc., a Florida corporation, to construct a building on certain lands owned by them. To secure the payment of said loan, they executed a mortgage on three lots in Lincolnton, a sub-division of Duval County. When they executed the mortgage and the note evidencing the debt, they also executed an agreement authorizing a Mr. Edward Dwelle, Jr., a realtor who acted as their agent in procuring the loan, to disburse said amounts to one W. S. Harris, the contractor, in two installments of equal amount. The first…