Parliament Industries, Inc. v. William H. Vaughan & Co.

OPINION OF THE COURT

FLAHERTY, Justice.

On December 27, 1977 Parliament, appellant herein, filed a complaint in confession of judgment in the Court of Common Pleas of Lehigh County. 1 Attached to the complaint were four promissory notes, each in the amount of $87,533, maturing respectively on December 28 of 1977,1978, 1979, and 1980. The notes specify that each was to be paid in four equal installments commencing on March 28 of the year in which each note was due. The second, third and fourth notes specify additionally that interest on the unpaid balance of each is “payable beginning March 28,…