Legal Opinion
United States v. John E. Palmer, Jr., Third-Party v. Lamar Life Insurance Company, Third-Party
Court of Appeals for the Third Circuit
Decided August 14, 1978No. 76-3343PublishedCited by 34 opinions
1Per curiam
The sole issue on this appeal is whether the guarantors of a second mortgage can attack for fraud the foreclosure sale held by the primary mortgagee, where the sale leaves nothing to pay the secondary mortgage they had guaranteed. We hold that the guarantors lack standing to attack the foreclosure.
The facts of this case involve two separate loans and several related businesses and individuals. The first loan was made in 1969 by Lamar Life Insurance Company to New Buena Vista, Inc. and Hotel Buena Vista, Inc. The loan was in the approximate amount of $1,100,000 and was secured by a first lien…
2Cases cited4 opinions
- H. W. Martens and Robert A. Maurin, Jr. v. Carl F. Barrett, B. C. Farcell and the Texas CompanyCourt of Appeals for the Fifth Circuit · 1957
- C. Severin Buschmann, Jr. v. Professional Men's AssociationCourt of Appeals for the Seventh Circuit · 1969
- Estelle v. HartTexas Commission of Appeals · 1932
- O. C. Mendenhall v. The Fleming Company, Inc., and MinimaxCourt of Appeals for the Fifth Circuit · 1974
3Cited by34 opinions
- Wingate v. HajdikTexas Supreme Court · 1990
- Joel R. Gaff v. Federal Deposit Insurance CorporationCourt of Appeals for the Sixth Circuit · 1987
- Gearhart Industries, Inc. v. Smith International, Inc.Court of Appeals for the Fifth Circuit · 1984
- Ensley v. Cody Resources, Inc.Court of Appeals for the Fifth Circuit · 1999
- Adair v. WozniakOhio Supreme Court · 1986
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