Roy v. International Multifoods Corp.

Steele Hays, Judge.

This is a dispute concerning a settlement offer of an unliquidated claim in the amount of $5,598. Appellants had bought feed from appellees on credit. When they fell behind on their payments on an open account, they were asked to execute a promissory note. They executed the note as requested.

After appellants fell behind on their payments pursuant to the terms of the note, appellee brought suit. Appellants alleged as a defense that the note failed to comply with the disclosure requirements under the Truth-in-Lending Act.

Subsequently, appellee, through its counsel, proposed…