Smith v. Allen

McMurray, Presiding Judge.

W. Fred Allen (plaintiff) sued J. David Smith (defendant) and Marvin Shiflet (defendant) alleging that defendants are indebted to him in the aggregate principal amount of $120,000 for loans made by plaintiff to defendants. Plaintiff further alleged that the defendants agreed to pay interest on said loans at a rate of 13% per annum from the date the loans were executed. Defendant Smith answered, denying the material allegations of the complaint. Defendant Shiflet did not respond to the plaintiff’s complaint. On February 19, 1986, a jury trial was conducted and. the…