Legal Opinion
Ocean Manor Ltd. v. Lindland
Court of Appeals for the Fifth Circuit
Decided September 18, 1978No. 76-1809PublishedCited by 1 opinion
1Per curiam
This appeal presents as its sole issue the question whether actions by Ocean Manor Limited (Ltd.), the obligee on a wraparound1 real estate note and mortgage, were of such a nature as to discharge Richard L. Lindland, an uncompensated partial guarantor of the note, from his guaranty agreement.
Ltd. sold a hotel to Ocean Manor, Inc. (Inc.) pursuant to an agreement by which Inc. was to assume three prior mortgages, whose total unpaid balance was $3,694,221, and was to pay an additional $941,000 to Ltd. itself. The first mortgage on the hotel was to First Federal Savings & Loan of Miami, and the…
2Cases cited6 opinions
- Southwest Savings Association v. DunaganCourt of Appeals of Texas · 1965
- Miami National Bank v. FinkDistrict Court of Appeal of Florida · 1965
- Northwestern Bank v. CortnerDistrict Court of Appeal of Florida · 1973
- Hollywood Shopping Plaza, Inc. v. SchuylerDistrict Court of Appeal of Florida · 1965
- Tex-Wash Enterprises, Inc. v. FillmoreCourt of Appeals of Texas · 1972
1 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Ocean Manor Limited, a Florida Limited Partnership v. Louise W. Lindland, is Substituted in Place of Richard L. Lindland, Deceased, Third-Party v. Kovacs Investment Group, a Florida Trust, and Lauriston L. Crockett Trust, a Florida Trust, Jointly and Severally, Third-PartyCourt of Appeals for the Third Circuit · 1978