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ED JACOBSEN, JR., INC. v. CHAPLINE

[No. 193, September Term, 1968.]

253 Md. 70 (1969)

251 A.2d 604

ED JACOBSEN, JR., INC. v. CHAPLINE, ET AL.

Court of Appeals of Maryland.

Decided April 2, 1969.

Attorney(s) appearing for the Case

Submitted on brief by J. Willard Nalls, Jr., for appellant.

Charles U. Price for appellees.

The cause was argued before HAMMOND, C.J., and MARBURY, BARNES, SINGLEY and SMITH, JJ.

MARBURY, J., delivered the opinion of the Court.

Property of the appellant, Ed Jacobsen, Jr., Inc. (Jacobsen), encumbered by a mortgage from Robert W. Russell, his wife Margaret T. Russell, and Jacobsen to the appellees Clara K. Chapline, Howard H. Kelly and his wife Mary C. Kelly, securing a note to them in the amount of $123,000.00 was purchased by the appellees at foreclosure sale for $60,000.00 after default had occurred under the terms of the mortgage. The appellees...

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