Jim Fletcher
GA Business and Real Estate Attorney – (678) 607-6053
Bank affidavit sufficient to establish interest rate in suit on note
In Shropshire v. Alostar Bank of Commerce, Case No. A11A1770 etc. (Ga. App. February 23, 2012), the Georgia Court of Appeals rejected a challenge to the sufficiency of evidence on the interest rate. The subject note had a variable interest →
Bank need not “mitigate damages” by foreclosing first and then suing on note
In Shropshire v. Alostar Bank of Commerce, Case No. A11A1770 etc. (Ga. App. February 23, 2012), the Georgia Court of Appeals approved its decision in 2010 in the case of REL Development, Inc. v. Branch Banking & Trust Co., 305 Ga.App. →
Judgment including attorney fees may exceed limit on liability in guaranty
In the case of Boat Ramp Rd. Partners LLC v. First State Bank Inc., Case No. A11A2231 (Ga. App. February 29, 2012) where (a) multiple guarantors each executed an independent guaranty to a note, (b) each guaranty capped the respective →
Bank’s motivation in declaring a default and refusing to restructure debt held immaterial
In the case of Martin v. Hamilton State Bank, Case No. A11A1588 (Ga. App. February 24, 2012) the Georgia Court of Appeals held that a lender does not breach the implied duty of good faith and fair dealing when it →
Court of Appeals Rejects Promissory Estoppel Defense to Suit On Note and Guaranty
The Georgia Court of Appeals held that the State Bank of Cochran (First Laurens Bank) was entitled to collect on a promissory note, because the Defendants admitted to having failed to repay the bank despite having entered into the →
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