Scarber v. Kelsoe

STEAGALL, Justice.

The plaintiffs, Dorosco Scarber and Jacqueline McLemore filed a complaint in the Circuit Court of Etowah County, seeking a judgment declaring the outstanding balance due on a mortgage note executed by them in February 1983.1 The defendants, James and Frances Kelsoe, counterclaimed, requesting that the court reform the mortgage note to reflect an annual interest rate of 10 per cent. The trial court, after receiving ore tenus evidence, reformed the mortgage note so that it reflected an interest rate of 10 per cent per annum.

The record shows that in 1981 Scarber and McLemore…