Shatz v. Dunn

The defendants-appellees are makers of a promissory note which became due on March 30, 1973. The payees of the note indorsed the note in favor of the plaintiff-appellant. The note contained the provision that judgment could be confessed against the makers “in favor of the holder.”

On June 6, 1973, a confessed judgment was entered in favor of appellant in tire sum of $34,952.50. The appellees subsequently filed a motion to vacate the judgment alleging that the note was non-negotiable and that a judgment confessed in favor of one other than the payee is void. The Circuit Court of Johnson County…