Kaitz v. Pergola

This is an action by plaintiffs John and Steven S. Kaitz (“the Trustees”) on a promissory note (“the Note”) executed by defendants Philip and Susan R. Pergola (“the Pergolas”). Pursuant to Dist./Mun. Cts. R. A D. A, Rule 8A the Trustees have appealed the allowance of summary judgment in favor of the Pergolas on the parties’ cross-motions for summary judgment.

In January, 1988, the Pergolas purchased a residence from one Gesner in exchange for their Note and a mortgage on the property securing the Note. In July, 1989, Gesner assigned the Note and mortgage to the Trustees to secure a debt Gesner…