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Tag Archives: negotiable instruments

Civil Practice – Judgments – Default – Multiple Defendants – Joint & Several Liability – Negotiable Instruments – LLC as Collateral (access required)

Cole v. Erwin Plaintiff sued both the debtors and their businesses, which served as collateral for the debtors’ debt. Although two of the businesses filed a timely answer, the trial court could enter a default judgment against the other defendants since the defendants were sued, not jointly, but jointly and severally.

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Civil Practice – Judgments – Default – Multiple Defendants – Joint & Several Liability – Negotiable Instruments – LLC as Collateral (access required)

Cole v. Erwin Plaintiff sued both the debtors and their businesses, which served as collateral for the debtors’ debt. Although two of the businesses filed a timely answer, the trial court could enter a default judgment against the other defendants since the defendants were sued, not jointly, but jointly and severally.

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Contract – Negotiable Instruments – Promissory Note – Banks & Banking – Merger – No Judicial Notice (access required)

TD Bank, N.A. v. Mirabella Where defendant’s promissory note promises to pay Carolina First Bank or Carolina First Bank’s order, and where the only evidence that plaintiff is entitled to collect on the note is in several merger documents which were only provided in the appendix of plaintiff’s appellate brief, there is a genuine issue of material fact as to whether plaintiff is entitled to collect on defendant’s note.

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Real Property – Development Investment – Contract – Negotiable Instruments – Promissory Notes – Banks & Banking – Unfair Trade Practices Claim (access required)

In re Fifth Third Bank, N.A. Where the plaintiff-borrowers did not rely on any representation made by the defendant-bank when plaintiffs decided to invest in a planned development, and where plaintiffs failed to show that the bank had a duty to monitor the developers’ actions, plaintiffs did not make out a prima facie case of unfair trade practices against the bank. We affirm summary judgment for the bank on plaintiffs’ claims and on the bank’s counterclaim for breach of contract and costs.

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Bankruptcy – Negotiable Instruments – Promissory Note – Indorsed in Blank – Real Property – Mortgages – Automatic Stay (access required)

In re Robinson Where the debtor’s promissory note has been indorsed in blank, and where Residential Credit Solutions (RCS) entered the original promissory note with the blank indorsement into the evidence, RCS is the holder of the note because it is in possession of the original note indorsed in blank. Since RCS has agreed to accept the debtor’s proposed payment plan, RCS’s motion for relief from the automatic stay is denied.

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Contract – Negotiable Instruments – Promissory Note – Assignment – Trusts & Estates – Administratrix’s Signature (access required)

Lewis v. Stanley Before he died, the defendant-administratrix’s decedent had gotten behind on a business loan from plaintiff. Plaintiff agreed to have the adminitratrix transfer the decedent’s debt to his business partner. Where, in the presence of a notary public, plaintiff signed a handwritten provision on the promissory note saying the note had been satisfied and cancelled, the debt owed by the decedent’s estate to plaintiff was validly discharged, and no grounds exist for relief on plaintiff’s breach of contract claim.

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