Wilson v. Wakulla Edgewater Co.

TERRELL, J.:

This appeal is from a decree dismissing an amended bill of complaint, the pertinent allegations being, that in 1943 C.B.F. Corporation, Gulf Villas Inc. and Gulf Homes Inc. (hereinafter referred to as the Corporations) made a contract with the Federal Housing Administration (hereinafter referred to as FHA) whereby FHA agreed to insure certain mortgages executed to Whatley, Davin and Company on 300 housing units to be constructed on lands in Bay County. The apposite condition of the contract was to install a water system adequate to serve the 300 housing units, the land on which…