Carmichael v. Barham, Bennett, Miller & Stone

Deen, Presiding Judge.

George W. Carmichael and Marjorie D. Carmichael are the sole stockholders of Carmichael Lanes, Inc. In 1979, the Carmichaels applied for a loan from Valdosta Federal Savings & Loan Association (“Valdosta Savings”) to purchase a building leased by Carmichael Lanes. After making the loan application, George Carmichael contacted several members of the Board of Directors of Valdosta Savings and advised them that he was applying for a loan. After the loan was approved and he was informed by Valdosta Savings that it was necessary for an attorney to handle the closing, George…