Cantor v. Drapkin

CARROLL, Judge.

This is an appeal by the defendants below from a judgment entered on a jury verdict, in an action on a promissory note.

The factual background was the following. In 1964 the defendants, then owners of a small shopping center in Boca Raton, Florida, sold the property to the plaintiffs, who thereupon leased it back to the defendants on a long term lease. The property was subject to an outstanding first mortgage. Shortly after the sale and lease back, the defendants arranged to obtain a loan, up to $150,000, to be used for constructing an additional store building on the property,…