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CARLYLE v. AIG LIFE INS.

Misc. No. 13, September Term, 1993.

333 Md. 265 (1994)

635 A.2d 366

CARLYLE APARTMENTS JOINT VENTURE, ETC. v. AIG LIFE INSURANCE CO.

Court of Appeals of Maryland.

January 10, 1994.

Attorney(s) appearing for the Case

John E. Schwarz (Dwight D. Meier, Jerald Pasternak, Ginsburg, Feldman and Bress, Chartered) on brief, Washington, DC, for appellant.

James H. Hulme (Arent Fox Kintner Plotkin & Kahn) on brief, Bethesda, for appellee.

Argued before MURPHY, C.J., and ELDRIDGE, RODOWSKY, McAULIFFE, CHASANOW, KARWACKI, and ROBERT M. BELL, JJ.

RODOWSKY, Judge.

This is a certified question case.1 A mortgagor, as part of a refinancing, voluntarily prepaid a commercial loan in accordance with its terms. The mortgagor now seeks to recover the agreed prepayment fee by arguing that (1) the mortgagor's performance of the contract should be treated as a breach of contract, (2) the prepayment fee should be treated as liquidated damages, and (3) the prepayment fee is void as a penalty...

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