Larkin Bank v. Ishak

Mr. PRESIDING JUSTICE GUILD

delivered the opinion of the court:

The defendant herein appeals from a judgment order of the trial court awarding the sum of *1550 as attorney’s fees in a confession of judgment action.

On January 7,1975, defendants signed a note as guarantors containing a confession of judgment clause, bearing interest at the rate of 11% per annum from January 9, 1975, and due 180 days after that date. The note itself fails to disclose the name of the payee but the same is payable to a holder in due course. On July 18 the Larkin Bank, a National Banking Institution, confessed judgment…