Donaghey v. Executive Funding Corp.

On September 24, 1975, the plaintiffs, Aidan and Kathleen Donaghey, obtained a judgment by confession in the circuit court against the defendants, Executive Funding Corporation and Vincent P. Salvione, based upon a promissory note containing a warrant of attorney to confess judgment without service or notice. The judgment, including principal, interest, attorney’s fees, and costs, amounted to *3,266.66.

On May 25, 1968, the promissory note was executed in favor of plaintiffs in the amount of *1,000 with an annual interest rate of 20 percent. The note was due on May 25, 1969. The note was signed…