Lowder Realty Co., Inc. v. Sabry

ON APPLICATION FOR REHEARING

This Court's original opinion of January 13, 1989, is withdrawn and the following is substituted therefor:

On May 14, 1982, Attiah and Zeinab Sabry entered into a sales contract with Burton and Kathleen Olshan in which the Sabrys agreed to purchase a 24-unit apartment building in Birmingham, Alabama. Donald Zegarelli, an agent for Lowder Realty Company, negotiated this transaction. In connection with the purchase, the Sabrys assumed a $64,514.28 first mortgage and executed a promissory note, secured by a second mortgage, in the amount of $155,485.72. The Sabrys also…