Colonial Mortgage Service Co. v. Melrose Country Club

Opinion by

Mr. Justice O’Brien,

The plaintiff filed a complaint in assumpsit in which it alleged that it was employed by the defendant-appellant to secure a mortgage in the sum of $350,-000 to $400,000, with interest to be no more than 6%%. The defendants were to pay a fee of $25,000 for the obtaining of a commitment on this mortgage.

On March 1, 1963, by letter, the appellee advised the country club that it had obtained a commitment for a $400,000 first mortgage with interest at 6%% from the Monumental Life Insurance Company of Baltimore, Maryland, subject to certain enumerated conditions, one…