Boyle v. American Security Bank

After a bench trial, American Security Bank (the “Bank”) was awarded damages for the balance due on a promissory note executed by appellants. In challenging the judgment, appellants contend that the Bank improperly exercised its right to accelerate the maturity of the note and to set-off the balance due with other Bank deposits of appellants. We disagree and therefore affirm.

I

The essential facts are not in dispute. On October 1, 1981, Donald Boyle and David Alternan, general partners in D & D Properties, borrowed $30,000 from American Security Bank and executed a personal promissory note as…