Heritage Real Estate & Development Co. v. Gaich

COBB, Judge.

The issue on this appeal involves a final summary judgment in regard to promissory notes. The transaction which gave rise to the instruments was the sale of a real estate business from Michael Gaich (payee) to Heritage Real Estate and Development, Inc. and Dennis Blaeuer (makers).

The two promissory notes in question were executed on October 1, 1989 and the makers agreed to pay Gaich $75,355.00 and $175,829.00, with interest at the rate of 10% per annum. A payment schedule was contained therein with provisions for acceleration of the notes upon sale of the business prior to final…