Richards v. Southern Finance Corp.

Deen, Presiding Judge.

On November 29, 1979, appellant Richards executed a promissory note in favor of appellee Southern Finance Corporation (Southern) representing the balance due on the commission on a piece of land purchased through appellee. The note, executed on a preprinted form, recited no consideration other than the phrase “for value received.” Richards renewed the note twice, the second time in April 1983 for a principal balance of $7,752.50. On August 5,1983, Southern formally demanded payment of the principal balance plus interest. When appellant failed to pay, appellee filed suit…