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POWER EQUIPMENT v. FIRST ALABAMA BANK

1900126.

585 So.2d 1291 (1991)

POWER EQUIPMENT COMPANY, INC. v. FIRST ALABAMA BANK, et al.

Supreme Court of Alabama.

August 9, 1991.

Attorney(s) appearing for the Case

James Harvey Tipler of Tipler and Tipler, Andalusia, for appellant.

Christopher Lyle McIlwain of Hubbard, Waldrop, Reynolds, Davis & McIlwain, Tuscaloosa, for appellees.

INGRAM, Justice.

The Commercial Bank sued Power Equipment Company, Inc., claiming that Power Equipment had defaulted on two promissory notes. The first note, which The Commercial Bank claimed had an outstanding balance of $20,250 when the suit was filed, evidenced a loan made to Power Equipment in June 1985 to enable it to purchase a forklift to be used in its business operations. The second note, executed in August 1985, represented a $900,000 line of credit that...

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