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CENT. PA. SAV. ASS'N v. CARPENTERS OF PA.

502 Pa. 17 (1983)

463 A.2d 414

CENTRAL PENNSYLVANIA SAVINGS ASSOCIATION, Appellee, v. CARPENTERS OF PENNSYLVANIA, INC., Appellant. Appeal of The COMMONWEALTH NATIONAL BANK.

Supreme Court of Pennsylvania.

Decided July 8, 1983.

Attorney(s) appearing for the Case

Robert C. Spitzer, Harrisburg, for appellant.

Patrick T. Ryan, Philadelphia, Guy William Schlesinger, Shamokin, for appellee Central Pa. Sav. Assn.

Before ROBERTS, C.J., and LARSEN, FLAHERTY, McDERMOTT, HUTCHINSON and ZAPPALA, JJ.

OPINION

ZAPPALA, Justice.

Appellant, Commonwealth National Bank, (hereafter Bank) and Appellee, Central Pennsylvania Savings Association, (hereafter Savings and Loan) both made loans to Carpenters of Pennsylvania (hereafter Carpenters) for the construction of dwelling units in the Borough of Steelton, Dauphin County. Savings and Loan agreed on November 30, 1973, to lend $1,289,500 for a fifty unit project. The loan...

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