Goldberg v. Mouna

Pope, Judge.

On August 17, 1984 Alberta Goldberg executed and delivered to Youssef Mouna a 30-day promissory note in the principal amount of *262$10,000. The note provided for two 30-day extensions, but in no event was the term of the note to extend beyond November 14, 1984, “TIME BEING THE ESSENCE OF THIS CONTRACT.” The note also provided: “If the Borrower is unable to pay the aforesaid unpaid principal sum pursuant to the terms of this Note, then she shall transfer to the Lender . . . her five hundred (500) shares of stock in CRADLE & ALL, LTD. in satisfaction for and full payment of this Note.”…