Development Services, Inc. v. Sheehan

Kelly, Justice.

Plaintiff sued defendants for $13,000 as commission due for the procurement of a loan. The lower court found for defendants and thus this appeal.

On June 23, 1965, defendants signed a loan procurement contract with Neil Larson whereby Larson would be paid lV^-percent commission on the principal amount of the mortgage if he could obtain a $650,000 mortgage amortized over 20 years with *3836-percent interest per annum. An additional commission of one-half percent of the principal was to be paid to Larson if he could obtain interim construction financing. The commission was to “be…