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DUNLAP ACRES v. INTERVEST DEVELOPMENT CORP.

No. 2005-CA-01271-COA.

955 So.2d 345 (2006)

DUNLAP ACRES, LTD. and Shannon Rentals, Ltd., Appellants v. INTERVEST DEVELOPMENT CORPORATION, Intervest Partners Corporation, Intervest Corporation, West Point Housing, L.P., Shannon Housing, L.P., J. Steve Nail and Rodney H. Dudley, Appellees.

Court of Appeals of Mississippi.

Rehearing Denied January 16, 2007.

Certiorari Denied April 12, 2007.

Attorney(s) appearing for the Case

Brenda B. Bethany C. Michael Ellingburg, Jackson, Attorneys for Appellants.

Brooks R. Buchanan, Jackson, Attorney for Appellees.

EN BANC.

IRVING, J., for the Court.

¶ 1. This controversy is over the appropriate interest rate that is due under two promissory notes that are in default. The chancellor concluded that the proper rate was the legal rate of eight percent (8%). Dunlap Acres, Ltd. and Shannon Rentals, Ltd. appeal and argue that the promissory notes provided for a higher interest rate.

¶ 2. We find no merit to Dunlap's argument. Therefore, we affirm the judgment of the chancellor...

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