Citizens Valley Bank v. Douglas Robins, Inc.

Defendants appeal from a judgment for $31,406.88 plus interest, costs and attorney’s fees, on a note that defendant corporation gave plaintiff for a $60,000 loan.

Defendants had failed to pay the note on December 31, 1981, the due date. The parties extended that date to September 30,1982. After plaintiff demanded payment of the entire balance the parties agreed to another extension. By letter dated October 14, 1982, plaintiffs attorney advised defendants:

“[T]he principal balance as of today’s date on Mr. Robins loan is $31,406.88. Interest is paid current through October 1, 1982, and continues…