Stratford Corp. v. Pacific Mutual Life Insurance

Plaintiff in error will be referred to as the plaintiff, and defendant in error will be called Pacific Mutual or the defendant.

The plaintiff alleged in its amended complaint that on June 24, 1961, it sold a tract of land in Arapahoe county to the Alfa Development Company and received in payment a note for $6,976.14 which was secured by a first deed of trust upon the land. The plaintiff alleged that shortly after this sale,

“* * * defendant informed plaintiff that defendant intended to make a construction loan to Alfa Development Company in the approximate amount of $21,500.00, the proceeds of…