Gardner v. Tallmadge

STEPHENS, Judge.

I. Procedural History and Factual Background

A. Cognovit Note

Defendant Bruce Tallmadge, dba Tallmadge Holding Co., LLC., executed a demand cognovit promissory note (“Note”) dated 25 March 2004 to Plaintiff Michael J. Gardner which, reproduced here,2 reads as follows:

DEMAND COGNOVIT PROMISSORY NOTE

$200,000.00 Findlay, Ohio

*283Maturity Date: Upon Demand Date of Note:

March 25th, 2004

FOR VALUE RECEIVED, the undersigned, Tallmadge Holding Co., LLC., a North Carolina Limited Liability Company and Bruce Tallmadge (referred to in this Note as the “Borrowers”), promise to pay to .the order…