Tri-State Bank v. Blue Ribbon Saddle Shop, Inc.

Plaintiff, Tri-State Bank, brought an action in the circuit court of Cook County against defendants, Blue Ribbon Saddle Shop, Inc. and Morris Suson, to recover money due on a note and security agreement executed by defendants. Plaintiff also sought injunctive relief to protect the collateral securing the note. After plaintiff had obtained a confession of judgment on the note, defendants moved to dismiss the complaint on the ground that the note sued upon had been marked “cancelled upon renewal.” At the conclusion of hearings on defendants’ motion to dismiss, the trial court vacated the…