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HOUSING EQUITY CORP. v. JOYCE

[No. 353, September Term, 1971.] [No. 10 (Adv.), September Term, 1972.]

265 Md. 570 (1972)

290 A.2d 769

HOUSING EQUITY CORPORATION v. JOYCE ET AL. JOYCE ET AL. v. TOMES ET AL.

Court of Appeals of Maryland.

Decided May 17, 1972.

Attorney(s) appearing for the Case

Robert A. Klein, with whom were Danzansky, Dickey, Tydings, Quint & Gordon on the brief, for Housing Equity Corporation, appellant in No. 353 and appellee in No. 10.

Paul Martin Wolff, with whom were Paul R. Connolly and Williams, Connolly & Califano on the brief, for William T. Joyce and Stephen N. Jones, appellees in No. 353 and appellants in No. 10.

Robert E. Bullard, with whom were Murray L. Deutchman and Bullard & Deutchman on the brief, for Alma M. Burns, appellee in No. 353 and appellant in No. 10.

No brief filed for James F. Tomes and H. Hughes Spragins, appellees in both cases.

The cause was argued before HAMMOND, C.J., and BARNES, FINAN, SINGLEY and SMITH, JJ.

SINGLEY, J., delivered the opinion of the Court.

These two appeals, consolidated for purposes of argument, had their genesis in a single real estate transaction: the purchase by Housing Equity Corporation (Housing Equity) from William T. Joyce, Stephen N. Jones and Alma M. Burns (the Sellers) of some 101 acres of land in Montgomery County for $2,859,659.66, of which $625,000.00 was paid in cash and $2,234,659.66 was represented by notes, secured by two purchase money...

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