Capelli v. Pittsburgh National Bank

RODGERS, J.,

This matter is before the court en banc on exceptions taken by plaintiffs, Raymond M. Cappelli et al. (hereinafter Cappelli), to the December 30, 1983 order of Judge Charles G. Sweet which granted Summary Judgment in favor of defendant, Pittsburgh National Bank (hereinafter PNB).

The uncontested facts are as follows:

On October 20, 1978, Cappelli executed a note to PNB in the amount of $150,000. This note stated in three places on its face that it was payable “on demand.” The demand note provided for an interest rate of 11 percent until the date of maturity and 12 percent if and…