Gordon v. Sanatoga Inn, Inc.

WIEAND, Judge:

On November 12, 1976, Perma Bond Company made a loan of twenty thousand ($20,000.00) dollars to Sanatoga Inn, Inc., the terms of the loan to be reduced to a written instrument at a Mure date. On November 15, 1977, Sanatoga Inn, Inc., in consideration of value received and for its lender’s forbearance in demanding repayment of the loan, executed and delivered to Perma Bond Company a promissory note in the face amount of twenty thousand ($20,000.00) dollars. The note was under seal and was payable “on demand.” It called for the payment of interest at the rate of seven (7%) percent…