Young v. Bank of Quitman

Birdsong, Presiding Judge.

Dismissal of Counterclaims. The appellant John R. Young was indebted to the Bank of Quitman in an amount of more than $99,000, evidenced by a note. In 1985 Young persuaded the bank to renegotiate the note from, a flexible rate of interest to a flat rate and extended the note until January 1986. Young assured the bank he would rer ceive certain money from a Florida investment and from the sale of a yacht, the proceeds of which would, enable him to satisfy the indebtedness. When the indebtedness was not paid on the due date, the bank instituted suit in the Superior…