Henry v. Cobb Bank & Trust Co.

Shulman, Judge.

Defendants-appellants executed a promissory note, denominated a "Non-Negotiable Promissory Note” to James L. Bentley (not a party to this suit), payable in yearly installments or upon demand for failure to pay any installment, time being of the essence. Bentley transferred and assigned the note to the plaintiff-appellee Cobb Bank & Trust Company. Upon defendants’ failure to timely pay the second installment on the note, plaintiff notified defendants of its election to declare the entire unpaid balance due and owing. Plaintiff subsequently brought this action to recover the…