Wellington Co. v. Shakiba
Court of Special Appeals of Maryland
1Opinion of the CourtHollander, J.
In this appeal, we must determine whether a contract action to recover a debt may be brought on a deed of trust, executed under seal, that contains a covenant to pay, even though the underlying obligation is also evidenced by a promissory note, for which limitations has arguably expired.
On October 12, 2005, the Wellington Company, Inc. Profit Sharing Plan and Trust (“Wellington,” the “Trust,” or the “Lender”), appellant, filed a Complaint in the Circuit Court for Anne Arundel County against Hosein M. Shakiba and Roya M. Shakiba (“Borrowers”), appellees. 1 Wellington alleged that it had loaned…
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