Cadle Co. v. Hayes
Court of Appeals for the First Circuit
1Opinion of the Court
SELYA, Circuit Judge.
This diversity case involves a $150,000 promissory note, the conditions of its repayment, and a heated dispute between the parties about whether the debt has been satisfied. The court below thought not and entered summary judgment in favor of the noteholder. We affirm.
I. A TALE OF TWO LETTERS
In the summer of 1990, defendant-appellant John J. Hayes, III, executed a promissory note for $150,000, secured by a mortgage on premises owned by a real estate trust that he controlled. 1 The lender subsequently failed and plaintiff-appellee Cadle Company (C-Co.) acquired the note…
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