North Carolina Federal Savings & Loan Ass'n v. Ray

JOHNSON, Judge.

Plaintiff North Carolina Federal Savings and Loan Association (hereinafter “plaintiff” or “NCF”) instituted this legal malpractice action against defendant-attorney John Ray (hereinafter “defend ant”) by the filing of its complaint which alleged that defendant was professionally negligent and in breach of his fiduciary duty to plaintiff in handling the closing of a construction loan for plaintiff. Plaintiff asserts that defendant failed at the closing to properly apply an advance of the construction loan, in the form of a land draw check, so as to obtain a release of an…