Arnold v. Melvin R. Hall, Inc.

RATLIFF, Presiding Judge.

ON PETITION FOR REHEARING

Venice and Lois Arnold entered a conditional land sale contract for the purchase of real estate and associated personalty from Melvin R. Hall, Inc. (the corporation} 1 After paying more than one half of the original $135,000 contract price, the Ar-nolds defaulted. The corporation then sought and received a foreclosure order and deficiency judgment in the Owen Circuit Court. At the sheriff's sale of the realty, the corporation was the sole bidder. Its bid was less than the outstanding debt, consequently, it sought to enforce its deficiency…