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promissory note

Mar 21, 2012

Contract – Negotiable Instruments – Promissory Note – Banks & Banking – Merger – No Judicial Notice

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 entit[...]

Jan 12, 2012

Contract – Promissory Note — Banks & Banking – Real Property – Laches — Environmental Degradation – Principal Payments

Carolina First Bank v. Stambaugh Even though the plaintiff-bank instituted foreclosure proceedings on defendants’ property, it remained defendants’ responsibility to provide erosion control on the property. No delay by the bank injured defendants; therefore, the equitable doctrine of laches is inapplicable. The bank’s motion for summary judgment is granted.

Dec 1, 2011

Bankruptcy – Negotiable Instruments – Promissory Note – Indorsed in Blank – Real Property – Mortgages – Automatic Stay

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 motio[...]

Nov 9, 2011

Contract – Promissory Note – Subordination Clause – Payment Suspension – Default

International Son-Ry’s Enterprises v. B&T Pools, Inc. Even though the defendant-debtors failed to make the payments required by their promissory note in favor of plaintiff, the payments were suspended by a lender with a superior lien on defendants’ property, as provided for in the promissory note’s subordination clause. Therefore, the default provision in the note did not come i[...]

Oct 27, 2011

Contract – Stock Sale – Promissory Note – Life Insurance Policy – Excess Proceeds

Raniszewski v. Davidson Defendant accepted a promissory note from plaintiffs’ decedent in exchange for defendant’s stock in a grocery store. The stock purchase agreement required the decedent to maintain a $4 million life insurance policy on his own life so long as any obligation of the decedent under his promissory note to defendant remained unsatisfied. Even though the decedent only[...]

Sep 14, 2011

Contract – Negotiable Instruments – Promissory Note – Assignment – Trusts & Estates – Administratrix’s Signature

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 deb[...]

Aug 24, 2011

Civil Practice – Appeals – Contract – Banks & Banking – Promissory Note – Attorney’s Fees – S.C. Law

East Bay Co. v. Baxley Commercial Properties, LLC Even though a party need not formally object and except to a discovery ruling in order to preserve the issue for appeal, the record must show that the appealing party made his objection known to the trial court. Since the record does not show that defendant objected to the trial court’s order compelling discovery, and since defendant did[...]

Jul 20, 2011

Contract – Consumer Protection – FDCPA — Promissory Note – Personal Loan

Smith v. EVB A district court erred in granting summary judgment to a lender on a borrower’s suit for violation of the Fair Debt Collection Practices Act, on the ground that a debt was commercial, not personal; the 4th Circuit vacates the summary judgment order and the court’s award of over $22,000 under the FDCPA against an attorney who was acting pro se.

Jul 11, 2011

Attorneys – Rule 11 – Sanctions Denied – Fact Investigation – Real Property – Promissory Note

Ancelmo v. Oliver Plaintiffs told their attorney that they had made all the payments required by an installment sale agreement for a tract of real property, yet defendants refused to release the deed of trust encumbering the property. Plaintiffs said there was no promissory note, and plaintiffs’ attorney made oral and written requests that defendants produce any such promissory note. De[...]

Oct 6, 2010

Civil Practice – Statute of Limitations – Counterclaims – Sealed Instrument – Fraud – Unfair and Deceptive Trade Practices – Promissory Notes – Vacation Home

McGuire v. Dixon. Fraud and unfair and deceptive trade practices counterclaims raised by defendants in a dispute over payment on a promissory note for the purchase of a vacation home in Jamaica were not barred by the statute of limitations that apply to those claims. Instead, the claims were governed by the 10-year statute of limitations that applies to claims based on sealed instruments.[...]

Sep 3, 2010

Banks & Banking – Federal-Question Jurisdiction – FDIC – Promissory Note Chain of Custody

Applied Bank v. Power Development LLC. (Lawyers Weekly No. 10-04-0851, 7 pp.) (Martin Reidinger, J.) W.D.N.C. Holding: Even though the promissory note at issue passed through the hands of the FDIC as receiver of the original lender, plaintiff’s claim on the note does not involve a federal question. Remanded to state court. Facts Defendants removed […]

Jul 11, 2010

Contract – Creditor’s Rights – Promissory Note – Receiver Suit – Jurisdiction

Robb Evans & Associates LLC v. Holibaugh. (Lawyers Weekly No. 10-01-0624, 15 pp.) (Shedd, J.) No. 09-1429, June 29, 2010; USDC at Greenbelt, Md. (Messitte, J.) 4th Cir. Holding: A receiver appointed pursuant to an FTC enforcement action against a fraudulent debt counseling scheme wins summary judgment in its action to recover receivership property, payment […]

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