United Medical Corp. of Tennessee v. Hohenwald Bank & Trust Co.

OPINION

COOPER, Chief Justice.

The issue in this case is the fee due an attorney for services rendered in the collection of two promissory notes. The deed of trust securing the payment of the two notes provides that, in event of default, the debtor would be liable for:

All costs of collecting, including an amount as attorneys’ fees not to exceed ten percent (10%) of the principal and interest to be collected.

Giving due notice to the appropriate factors to be used as guides in fixing a reasonable attorney’s fee, see Disciplinary Rule 2-106 of the Rules of the Supreme Court, the chancellor…