Kreimer v. Second Federal Savings & Loan Ass'n

Opinion by

Flood, J.,

This case involves the right of the appellant, a materialman to recover as a third party beneficiary under a contract for the construction of a home executed on January 22, 1957, by the bankrupt as contractor, Mr. and Mrs. Robert K. McEnllop as owners, and the defendant Second Federal Savings and Loan Association. Under the contract the price was fixed at $10,900 and the association agreed in Article 9, that “funds or security in its possession in the total amount of (10,900) . . . shall be held by the Association and applied to the contract price above set forth, which…