Acme Cleveland Corp. v. Trayco Electric Co.

The defendant, Trayco Electric Co., Inc., by written motion and upon oral hearing has moved this court for relief from judgment previously entered against it. The judgment was obtained based on a confession thereof contained in a cognovit note filed with this court by the plaintiff, Acme Cleveland Corporation.

Upon oral hearing, the court and counsel for the respective parties agreed that the motion turns upon a single narrow issue:

“Did the plaintiff’s acceptance of a past due payment with interest, prior to giving notice of intent to exercise its right to accelerate all payments, serve as a…