Walde v. Capital Mortgage Investments

The broad question in this case is whether the trial court erred in granting summary judgment for the plaintiff, Capital Mortgage Investments (CMI). The specific issues relate to (1) the res judicata effect of an order ratifying a mortgage foreclosure sale and (2) the application of the parol evidence rule.

On August 10, 1973, CMI agreed to lend $2,960,000.00 to L&S Investment Co., Inc. (L&S), in order for L&S to acquire, rehabilitate and sell, as condominiums, certain townhouses *345and garden apartments located in Montgomery County, Maryland. L&S by its president, Gerald Lilienfield, executed a…