Union Labor Life Insurance v. Ten Gallon Hat Associates

MEMORANDUM AND ORDER

GAWTHROP, District Judge.

Plaintiff brings this action in diversity to recover on a promissory note and security agreement signed by the defendants. Plaintiff accelerated the note after defendants defaulted twice in making payments and after plaintiff sent a notice of intent to accelerate, giving defendants an opportunity to cure. Although there is really no factual dispute that plaintiff complied with all the terms of the note and applicable case law before demanding payment, defendants ask the court to apply equitable principles to prevent acceleration of the note.…