Crown Mortgage Corp. v. Carrico

ROBERT J. BURNS, Judge Pro Tem.

This is a suit by Crown Mortgage Corporation as holder in due course of a promissory note executed by the defendants on September 5, 1984. The note is in the principal amount of $10,000.00, payable “[o]n demand, or if no demand be made, then 180 days” from the date of execution. The suit seeks collection of the principal amount, plus interest at the specified rate of 15% per annum from September 5, 1984 until paid, and 25% attorney fees and costs.

Crown Mortgage filed its petition on September 29, 1989. The defendants responded with a peremptory exception of…