(Download) "Pioneer National Title Insurance Co. v. Belknap" by United States Court Of Appeals For The Sixth Circuit " Book PDF Kindle ePub Free
eBook details
- Title: Pioneer National Title Insurance Co. v. Belknap
- Author : United States Court Of Appeals For The Sixth Circuit
- Release Date : January 03, 1980
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 66 KB
Description
Defendants appeal from a judgment for plaintiff on a defaulted promissory note. Plaintiff cross-appeals for interest. The promissory note incorporated an agreement signed Aug. 8, 1974. A special master was appointed who recommended judgment for Pioneer as prayed. The District Court entered judgment for Pioneer on the promissory note, holding that no consideration was needed for the note as it was for an antecedent debt. No consideration is necessary for an instrument or obligation given in payment of or as security for an antecedent obligation of any kind. See Ky. Rev. Stat. § 355.3-408. The master found, and the District Court upheld the finding, that the promissory note was for an existing debt between Pioneer and Mr. Friedlander, Mr. Belknap and Mrs. Webb. This Court must accept the masters findings of fact unless clearly erroneous. Rule 53(e)(2), Fed. R. Civ. Pro. This Court cannot, on the record before it, say the finding is clearly erroneous. We affirm the judgment of the District Court for Pioneer except as to the amount of the interest.