Vandegriff v. Hamilton

Johnson, Chief Judge.

Robert Hamilton sued Joseph Vandegriff and Janet Vandegriff on a promissory note. The record shows that Hamilton advanced $102,500 to the Vandegriffs. To insure payment of the debt, Hamilton took a security interest in the Vandegriffs’ share in a tract of property owned jointly by Hamilton and the Vandegriffs. In addition, the Vandegriffs executed a promissory note to Hamilton in the amount of $102,500, due on or before September 18, 1994.

The Vandegriffs admit that the principal amount of the promissory note is $102,500 and that interest accrues at the rate of ten percent…