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J.R. HALE CONTRACTING CO. v. UNITED N.M. BANK

No. 17889.

799 P.2d 581 (1990)

110 N.M. 712

J.R. HALE CONTRACTING CO., INC., a New Mexico corporation, Plaintiff-appellant, v. UNITED NEW MEXICO BANK AT ALBUQUERQUE, f/k/a American Bank of Commerce, Defendant-Appellee.

Supreme Court of New Mexico.

October 4, 1990.

Attorney(s) appearing for the Case

Mathews, Crider, Calvert & Bingham, P.C., Carl A. Calvert, David G. Reynolds, Albuquerque, for plaintiff-appellant.

Keleher & McLeod, P.A., Russell Moore, Phil M. Krehbiel, Kurt Wihl, Albuquerque, for defendant-appellee.

OPINION

RANSOM, Justice.

This suit involves the claimed wrongful acceleration of a $400,000 promissory note given by J.R. Hale Contracting Company (the company) to the United New Mexico Bank at Albuquerque. At a trial on the merits the district court granted the bank's motion for a directed verdict, finding that the acceleration was justified because an interest payment was twenty-three days past due when the decision to accelerate was made. The company...

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