First American Bank v. MacDonald

By Judge Rosemarie Annunziata

On April 27,1992, Beverly Webb, an officer of First American Bank, confessed judgment on behalf of the plaintiff, against the defendant, Chad L. MacDonald, in the sum of $55,981.23 principal, plus interest, late charges in the sum of $2,833.33, and attorneys’ fees in the sum of $13,995.31. The note upon which the judgment was based provided for attorneys’ fees, in the event of a default, in an amount of the greater of $100.00 or twenty-five percent of the unpaid balance of the note. The parties stipulated that Beverly Webb was not an attomey-at-law and that at the…