Gulf Federal Savings Bank v. Zoblotsky

CHEHARDY, Chief Judge.

In this suit by a bank to collect on two $50,000 promissory notes, the defendants appeal from a judgment finding them personally liable. The district court awarded the amount of the notes, plus interest, attorney’s fees in the amount of $5,000 and court costs. The defendants do not contest that they signed the notes or that they received the money, but they assert that their liability was extinguished by the execution of a $100,000 note by the corporation they represented, which note they assert was substituted in place of their personal obligations.

Harry G. Zoblotsky…