Wellens v. PERPETUAL BUILDING ASSOCIATION

HOOD, Chief Judge.

In 1953 appellant Theodore R. Wellens, hereafter called the appellant, purchased a piece of commercial property with a main building fronting on the street and a detached garage opening onto an alley at the rear of the lot. He intended to carry on an elevator service and repair business on the premises, using the garage for storage purposes.

Prior to the purchase the seller through his agent had secured a commitment from appellee Perpetual Building Association for a loan to appellant of $15,000 to be secured by a first deed of trust on the property; and at time of settlement…