Mercantile Contract Purchase Corp. v. Melnick

Appellants sought to intervene in this mortgage foreclosure action, claiming they had been assured by Melnicks and Kaminsky that the sum of $20,000 would release any mortgages and interest of Auto Acceptance in Parcel III. This assertion is based on a letter to that effect which Melnicks produced at the time the land contract was executed and was from Auto Acceptance, signed by Harry W. Kaminsky and addressed to Stanley Melnick. Appellants allege they relied upon this representation and suffered damages in the amount of $30,000, representing their present equity. The appellants argue they…