Farmer v. Hypo Holdings, Inc.

On Application for Rehearing

The opinion of November 9, 1995, is withdrawn and the following opinion is substituted therefor.

The plaintiffs, Billy Farmer and his wife Judy Farmer, appeal from a summary judgment entered in favor of the defendant Hypo Holdings, Inc., on the Farmers' claim seeking a judgment declaring that a note and mortgage on their residence was void and unenforceable.

I

On June 20, 1984, the Farmers contracted with Alexander Development Corporation ("Alexander") to construct a house on land owned by Judy Farmer. The $36,500 construction price of the house was financed by…