Spath v. McLaughlin

LETTS, Judge.

The lender appeals the failure of the trial judge to award attorney’s fees and costs which were provided for in a demand promissory note on which the borrower had defaulted. The trial judge also refused to award interest on the note while in default. We reverse.

The lower court chose not to make these awards because of a contemporaneous memorandum accompanying the note which provided that the loan would be repayable at the rate of three hundred dollars per month (as distinct from the “payable on demand” provision in the note itself) and which memorandum made no mention of…