Ledbetter v. Brown City Savings Bank

Plaintiff Susan Ledbetter appeals as of right the trial court’s judgment which reduced an initial jury verdict awarded in her favor. Defendants cross-appeal from the judgment entered against them.

In 1978, plaintiff Susan Ledbetter borrowed $7,-200 to start a dress shop. This loan was renewed five times, with a new promissory note being drawn each time. Each note was secured by inventory and fixtures on hand or after-acquired, but not by any real property, mortgage instruments or bank accounts. While the notes allowed the bank, in case of default, to declare the indebtedness immediately due…