Tax/Investments Concepts, Inc. v. McLaughlin

LAVENDER, Justice:

For convenience, the appellants, Thomas and Amanda McLaughlin, will be referred to as the McLaughlins or appellants. Ap-pellee, Tax/Investments Concepts, Inc., will be referred to as TIC or appellee. Fidelity and Deposit Company of Maryland will be referred to as Fidelity or surety.

TIC filed suit against the McLaughlins to recover the unpaid balance on a promissory note executed by McLaughlins to TIC on November 17, 1975, in the principal sum of $8500, with interest at the rate of 15% per year, and for possession of certain personal property of the McLaughlins pledged as…