Okemo Mountain, Inc. v. Okemo Trailside Condominiums, Inc.

In 1975 Okemo Trailside Condominiums, Inc., executed and delivered to Okemo Mountain, Inc., a promissory note for $15,000.00. The note provided for semi-annual payments over two and one-half years. The note also provided in the event of default that the balance of the note would become due along with interest, costs and attorney fees.

Trouble developed when the second payment became due. The defendant, Trailside, claimed an offset for certain property damage caused by the alleged failure of the plaintiff, Okemo Mountain, to maintain a culvert properly. The defendant subtracted the amount…