Edwards v. Maler Construction Co.

FARMER, Judge.

This is a suit for deficiency by the holders of a series of notes against the maker, Maler Construction Co. (corporation), and its president, Roger J. Maler, following foreclosure proceedings pursuant to the deed of trust.

In May, 1979, the corporation purchased from plaintiffs a tract of real estate containing 7.05 acres abutting Lamar Avenue in Memphis. Sellers financed a portion of the purchase price with the debt being evidenced by the notes, which were secured by the deed of trust. The property was referred to throughout this matter as the “front area” (being the portion…