Oak Mountain Development Corp. v. Harrell

Carley, Judge.

Appellee-plaintiff brought suit to recover on a promissory note executed by appellant-defendant corporation. From the grant of appellee’s motion for summary judgment, appellant brings this appeal.

The relevant, undisputed facts are as follows: The promissory note provided for the repayment of the principal amount of $113,700.00 in consecutive monthly installments of $1,748.33. The first installment was due on the 15th of December, 1980 and succeeding installments were due on the 15th day of each month thereafter. The first installment was timely paid but the second installment…