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It probably is the emergency brake. I had my 87's emerg brake not retract, both sides, and I had to replace the shoes and the brake handle in the car. I have never had a sticking caliper.
I've had it happen on different cars I've owned as well as others I've worked on. It's usually been a bad caliper or e-brake/cable. If you jack the rear up, put the car in neutral and spin the tires, you should be able to feel if one wheel has more tension on it.
If one brake is grabbing, that wheel will usually get hot and stink of brake pad when you're driving.
In my 90's helm FSM there is a quick couple of checks you can do. Don't know if it will be the same for your mod yr?
Anyway, my p/b's were sticking a bit & I used the steps to locate the problem. First pull up on the brake pedal with your hand & listen carefully for any clicking sounds....if yes pull up on it again until you don't hear any sounds. Next pull up on the p/b lever, past five clicks, a few times. In the 90 FSM that's the self-adjustment for the system. If the p/b still stick after that the lever mechanism maybe a bit rusted up like mine was. I had to r&r seat to work on the p/b lever assembly. I took it out & dis-assembled and cleaned it up & re-lubed it with di-electric grease. My driver's window leaks right on it!
That's if you know it's the p/b that is sticking. It was time consuming and a bit tricky taking the lever mechanism apart....never did this before...but with the helm FSM I got it to go back together and work. Now all I have to do is fix the window leaks....oh joy!