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IN RE NATURAL LAND CORP.

No. 85-3443.

825 F.2d 296 (1987)

In re NATURAL LAND CORPORATION, Debtor. NATURAL LAND CORPORATION, Plaintiff-Appellant, v. BAKER FARMS, INC., Defendant-Appellee.

United States Court of Appeals, Eleventh Circuit.

August 21, 1987.

Attorney(s) appearing for the Case

Raymond J. Rotella, Orlando, Fla., for plaintiff-appellant.

Phillip H. Logan, Sanford, Fla., for defendant-appellee.

Before TJOFLAT and VANCE, Circuit Judges, and ATKINS, Senior District Judge.

TJOFLAT, Circuit Judge:

I.

The controversy in this bankruptcy case began on March 4, 1983, when Baker Farms, Inc. (Baker Farms) brought suit in the Circuit Court of Seminole County, Florida, to foreclose a mortgage on five parcels of unimproved pasture land (1,316 acres). Albert A. Clark and Robert E. Hirt had purchased the parcels from Baker Farms fourteen months earlier and had given Baker Farms a note and mortgage for most of the purchase price, but they...

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