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LIVELY v. DRAKE

629 S.W.2d 900 (1982)

James W. LIVELY and wife Lavina B. Lively, Plaintiffs-Appellants, v. Carl DRAKE and Anita B. Spencer, Trustee, Defendants-Appellees.

Supreme Court of Tennessee, at Knoxville.

March 22, 1982.

Attorney(s) appearing for the Case

Harry Berke, Berke, Berke & Berke, Chattanooga, for plaintiffs-appellants.

Phillip C. Lawrence, Chattanooga, for defendants-appellees.

OPINION

HARBISON, Chief Justice.

In this action the Chancellor enjoined appellees from foreclosing a deed of trust which secured a note executed by appellants and held by appellee Drake. The Court of Appeals reversed and this Court granted review.

There is no dispute concerning the material facts. On August 15, 1972, appellants, Mr. and Mrs. Lively, executed a promissory note in the principal amount of sixteen thousand dollars payable in monthly...

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