Dunn v. General Equities of Iowa, Ltd.

McCORMICK, Judge.

The question here is whether the trial court erred in holding that the payees of two promissory notes waived their right to invoke acceleration clauses by accepting late payments on several prior occasions. We must decide if acceleration clauses can be waived by a previous course of dealing between the parties and, if so, whether the finding of waiver in this case is supported by substantial evidence. Because we give affirmative answers to each of these issues, we affirm the trial court.

Plaintiffs W. A. and Lola Dunn are payees on separate notes executed by defendant General…