Auto-Plaza, Inc. v. Central Bank of Alabama

Appellant Auto-Plaza, Inc., is an Alabama corporation located in Etowah County, Alabama, and formerly engaged in the business of selling new and used cars.

In August of 1976, Auto-Plaza assumed a mortgage and mortgage note due Appellee Central Bank from a corporation known as Alder Acres, Inc. This property had previously been leased by Auto-Plaza as a service department and body shop. The "Alder Acres" mortgage note provided for payments to be made on the first day of each month from its assumption in August of 1976. Until April of 1980, Auto-Plaza wrote approximately 42 checks for payments…