Delta Acceptance Corp. v. Goldman

PONDER, Judge.

This is a suit on a promissory note. Plaintiff confirmed a default judgment from which defendants appealed.

Defendants contend that the note is usu- ' rious and therefore the mortgage should be extinguished because there is no lawful debt; that plaintiff did not bear its burden of proof to obtain a default; and that plaintiff has no right of action to the relief sought.

We reverse and remand.

Defendants’ contention that plaintiff has no right of action is based upon the fact that the note was endorsed to General Electric Credit Corporation with recourse by plaintiff. The law prior…