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MARTA v. MUTUAL LIFE INS. CO. OF N.Y.

Civ. A. No. 94-429-JLL.

887 F.Supp. 722 (1995)

Albert H. MARTA, Plaintiff, v. The MUTUAL LIFE INSURANCE COMPANY OF NEW YORK, Defendant.

United States District Court, D. Delaware.

May 30, 1995.

Attorney(s) appearing for the Case

Frederick W. Iobst, and Nancy E. Whinnery, of Young, Conaway, Stargatt & Taylor, Wilmington, DE, for plaintiff.

M. Duncan Grant, and Kathryn A. Kelly, of Pepper, Hamilton & Scheetz, Wilmington, DE, for defendant.

MEMORANDUM OPINION

LATCHUM, Senior District Judge.

I. INTRODUCTION

This action arises over a dispute concerning an obligation to pay a species of interest called "contingent interest" which is grounded in a note ("Note") and mortgage ("Mortgage").1 The plaintiff, Albert H. Marta ("Marta"), assumed the Note which was secured by the Mortgage on an apartment complex when he purchased the complex from the previous...

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