Legal Opinion
MORTGAGE INV. OF WASHINGTON v. Citizens Bank and Trust Co.
Court of Special Appeals of Maryland
Decided January 2, 1976No. 350, September Term, 1975PublishedCited by 15 opinions
1Opinion of the CourtOrth, C. J.
The issue for decision in this case is whether a stipulation in a promissory note for the payment by the debtor of a specified attorney’s fee for services in the collection of the debt upon default is valid and enforceable. We hold that such a provision is valid and that it is enforceable with the limitation that the fee may not exceed the amount which the creditor is obligated to pay his attorney for the services contemplated.
STATEMENT OF THE CASE
Mortgage Investors of Washington (MIW) executed two notes, promising to pay Citizens Bank and Trust Company of Maryland (Citizens) at a certain…
2Cases cited14 opinions
- Empire Realty Co. v. FleisherCourt of Appeals of Maryland · 1973
- Brenner v. PlittCourt of Appeals of Maryland · 1943
- Addressograph-Multigraph Corp. v. ZinkCourt of Appeals of Maryland · 1975
- Webster v. People's Loan, Savings & Deposit BankCourt of Appeals of Maryland · 1931
- Johnson v. PhillipsCourt of Appeals of Maryland · 1923
9 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Chaudhry v. GallerizzoCourt of Appeals for the Fourth Circuit · 1999
- Mattvidi Associates Ltd. Partnership v. Nationsbank of Virginia, N.A.Court of Special Appeals of Maryland · 1994
- Colonial Carpets, Inc. v. Carpet Fair, Inc.Court of Special Appeals of Maryland · 1977
- Mortgage Investors v. Citizens Bank & Trust Co.Court of Appeals of Maryland · 1976
- Foster v. FosterCourt of Special Appeals of Maryland · 1976
10 more not listed; retrieve them via the Exa API.