D'Aubin v. Mauroner-Craddock, Inc.

TATE, Justice.

This suit arises from a construction loan agreement. Under its terms the lender (Royal American) agreed to advance $31,900 to the borrower-owner (William D’Aubin) for the construction of a residence on his property by the contractor (Mauroner-Craddock, Inc.). However, the money advanced to the contractor was not used by it to pay off construction debts, so that the owner was forced to pay off liens exceeding seven thousand dollars against his property.1

By the present suit, the owner D’Aubin and his wife sue to recover for the diversion from their construction loan of sums used…