Harrison-Floyd Farm Bureau Cooperative Ass'n v. Reed
Indiana Court of Appeals
1Opinion of the Court
BAKER, Judge.
STATEMENT OF THE CASE
Plaintiff-appellant, Harrison-Floyd Farm Bureau Cooperative Association (Farm Bureau), appeals the judgment on its action to collect on an unsatisfied promissory note executed by defendant-appellees, Arthur Reed, Rena Reed, Roger Reed, and Rebecca Reed.
We reverse and remand.
STATEMENT OF THE FACTS
Arther and his son, Roger, were partners in a farming operation. Arthur maintained an open account with Farm Bureau upon which interest was charged at a rate of 21% per annum. By May, 1983, the account had an unpaid balance in the sum of $34,272.59. Although the…
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