Mason v. Western Mortgage Loan Corp.

OPINION

BENCH, Judge:

Defendant appeals from an award of judgment interest. We reverse and remand.

In 1977, plaintiff Cleo Mason entered into two loan agreements with defendant Western Mortgage Loan Corporation (Western) under which Western would provide approximately $54,000 for the construction of two houses. While Western disbursed $25,000 of the construction funds upon joint authorization of Mason and her general contractor, $29,000 was disbursed at the sole request of the contractor, without Mason’s express authorization. Prior to completion of the homes, the loan funds were exhausted.…