Bowen v. Tucker Federal Savings & Loan Ass'n

Smith, Judge.

Tucker Federal Savings & Loan Association (“the bank”) brought suit against K. C. Bowen on ten promissory notes executed by Bowen in its favor. Bowen appeals from the trial court’s grant of summary judgment to the bank

The sole issue in this appeal is whether the lender may accelerate a debt and bring suit on a note when the default is not a failure to pay according to the terms of the note, but rather a breach of other terms of the security deed.

The record reveals that Bowen executed the notes in 1986. Each note was for the principal amount of $50,000, and all had identical…