Diversified Financial Planners, Inc. v. Maderak

The opinion of the court was delivered by

Abbott, J.:

This is an action on an unsecured promissory note.

The appellant, Joseph A. Maderak, executed a promissory note in favor of Indian Springs State Bank of Kansas City, Kansas, (the Bank) on October 19, 1983. The Bank became insolvent and was taken over by the FDIC. Eventually, the FDIC discounted the note and sold it to the appellee, Diversified Financial Planners, Inc. (Diversified).

Diversified filed suit on the note on January 10, 1990, alleging that payment was last made on the note on March 25, 1985. Maderak answered, but did not deny any…