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PEMSTEIN v. STIMPSON

No. 92-P-518.

36 Mass. App. Ct. 283 (1994)

630 N.E.2d 608

LOUIS PEMSTEIN, trustee, & others vs. EDWARD S. STIMPSON, THIRD.

Appeals Court of Massachusetts, Worcester.

March 28, 1994.

Attorney(s) appearing for the Case

Michael P. Angelini for the defendant.

Philip J. MacCarthy for the plaintiffs.

Present: KASS, GREENBERG, & LAURENCE, JJ.

KASS, J.

On May 14, 1985, Draper Renovation Associates, Inc. (Draper), bought a large mill property (the Draper mill) in Hopedale from the trustees of the Hopedale Realty Trust (the Trust). Draper paid the major portion of the purchase price by giving to the sellers a note for $2,000,000, secured by a first mortgage.2 As to the obligations of Draper under that note and mortgage, Edward S. Stimpson, III, the president and treasurer of Draper...

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