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TELEMARK DEVELOPMENT GROUP, INC. v. MENGELT

Nos. 02-1280, 02-1331.

313 F.3d 972 (2002)

TELEMARK DEVELOPMENT GROUP, INC., a Nevada corporation, Plaintiff-Appellee, v. John P. MENGELT, Defendant-Appellant, Cross-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided December 12, 2002.

Attorney(s) appearing for the Case

Robert K. Blain (argued), Elmhurst, IL, for Plaintiff-Appellee, Cross-Appellant.

Martin W. Salzman (argued), Eric S. Rein, Schwartz, Cooper, Greenberger & Krauss, Chicago, IL, for Defendant-Appellant, Cross-Appellee.

Before COFFEY, RIPPLE and MANION, Circuit Judges.

RIPPLE, Circuit Judge.

Telemark Development Group, Inc. ("Telemark") brought this action against John Mengelt for breach of contract on a $55,000 promissory note. It alleged that Mr. Mengelt had refused to accept tender of payment on the note and had failed to return stock given as collateral. Mr. Mengelt brought a counterclaim, seeking the principal balance and accrued interest owed on the note. Both sides moved for summary judgment. The district court granted Telemark...

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