Goetz v. Phillips

CAMERON, Judge.

This is an appeal from a summary judgment granted upon motion of the plaintiffs below, appellees herein, foreclosing a mortgage against the defendant below. From the judgment, defendant brings this appeal. The plaintiffs are the assignees of a partnership composed of A. T. LaPrade, Jr., James B. Phillips and Russ Lyon, Jr., and will be hereinafter referred to as the partnership. The defendant, Charles E. Goetz, will be hereinafter referred to as Goetz.

We are called upon to determine whether an interest obtained by the partnership in a note was a sale or a loan, and if a loan,…