Allendale Furniture Co. v. Carolina Commercial Bank

Chandler, Justice:

This petition is from a decision of the Court of Appeals, reversing a judgment of the Circuit Court. See 280 S. C. 247, 312 S. E. (2d) 569 (S. C. App. 1984).

We reverse and affirm the original judgment.

This action involves a $75,000.00 note and real estate mortgage given by Allendale Furniture Company (Company) to Carolina Commercial Bank (Bank), payable on the first day of each month at the rate of $919.96.

From date of execution on April 14, 1974, through September, 1976, payments were timely made; thereafter, they were delinquent from as little as eight days to as much as…