Beasley v. Horrell

OPINION

LEWIS, Judge.

Plaintiffs, William A. Beasley, III, and Sarah Beasley, appeal from the trial court’s granting of defendants’ motion for summary judgment and the resulting judgment entered for the defendants which cancelled a $100,000.00 note made by defendants and payable to plaintiffs. Plaintiffs also appealed from the trial court’s refusal to reform the note.

Plaintiffs filed a declaratory judgment action seeking a declaration that the cancellation provision in a $100,000.00 non-negotiable promissory note made by defendants is an unenforceable penalty and, also, sought to have the note…