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GLOBE IRON CONST. CO. v. FIRST NATIONAL BANK OF BOSTON

140 S.E.2d 629 (1965)

205 Va. 841

GLOBE IRON CONSTRUCTION COMPANY, Incorporated, v. The FIRST NATIONAL BANK OF BOSTON and Frank W. Rogers and Leonard G. Muse, Receivers of Towers Shopping Center, Incorporated.

Supreme Court of Appeals of Virginia.

March 8, 1965.

Attorney(s) appearing for the Case

E. Griffith Dodson, Jr., Roanoke (Dodson, Pence & Coulter, Roanoke, on the brief), for appellant.

Frank W. Rogers, John L. Walker, Jr., Roanoke (Woods, Rogers, Muse & Walker, Roanoke, Lyne, Woodworth & Evarts, Boston, Mass., on the brief), for appellees.

Before EGGLESTON, C. J., and SPRATLEY, BUCHANAN, SNEAD, I'ANSON and CARRICO, JJ.

EGGLESTON, Chief Justice.

The First National Bank of Boston filed its bill in the court below, alleging that Times-World Corporation had leased certain land in the city of Roanoke to Towers Shopping Center, Incorporated, on which the latter had agreed to construct a shopping center at a cost of at least $2,500,000; that the bank had entered into an agreement with Towers to make a construction loan of $3,000,000 on the property; that pursuant to this agreement Towers...

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