Milstein v. Northeast Ohio Harness

This is an appeal by six appellants from the trial court’s refusal to vacate a judgment taken against them on three cognovit notes. The following facts give rise to the appeal.

On October 1, 1981, appellant Grandview Raceway, a limited partnership, executed a $500,000 cognovit note in favor of Sportservice Corporation (“Sportservice”). The note was guaranteed by four individuals, all appellants herein: William F. Snyder, Loren W. Houston, Robert D. Stakich and Victor D. Ippolito. The same individuals guaranteed another cognovit note in the same amount executed on October 5, 1981 by Northeast…