MUNILLA v. PEREZ-COBO

No. 75-1442.

335 So.2d 584 (1976)

Ferando MUNILLA and Norka Munilla, His Wife, Appellants, v. Armando PEREZ-COBO, Appellee.

District Court of Appeal of Florida, Third District.

Rehearing Denied August 10, 1976.


Attorney(s) appearing for the Case

Shorenstein & Lewis, Miami Beach, for appellants.

A. Jay Cristol and Michael V. Blumenthal, Miami, for appellee.

Before PEARSON, HENDRY and HAVERFIELD, JJ.


HAVERFIELD, Judge.

Defendants seek reversal of a final summary judgment for plaintiff in this mortgage foreclosure action.

Pursuant to the terms of a participation agreement on the construction and sale of houses, plaintiff, Armando Perez-Cobo, was to receive a guaranteed profit from the sale in consideration for advancing loans totalling $20,000 at an interest rate of 8% per annum to the Los Angeles Building Corporation controlled by the family of the defendants...

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