Pollack v. Pulaski Bank & Trust Co.

James R. Cooper, Judge.

On July 15,1987, the appellants executed a promissory note to the appellee in the original principal amount of $62,180.12, giving a security interest in equipment used in the appellants’ business, The Image Factory, Inc. The security agreement required the appellee to give five days’ written notice before sale of the collateral in the event of default and repossession. In October 1987, the note was in default, and the appellants voluntarily surrendered possession of the equipment to the appellee. The parties kept in close contact with each other, and both attempted to…