Sign In
Events
Newsletters
Search

Close

Close Search

Cancel

SEARCH
MY LAW.COMNEW

Lockwood v. Federal Deposit Ins. Corp.

While the plaintiff's letter informing the defendant of his default on a promissory note was deficient in that it failed to specify that payment was due within 10 days of receipt of the letter, the plaintiff provided sufficient statutory notice in its later-filed complaint.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Joseph K. Lockwood appeals the trial court’s grant of summary judgment to the Federal Deposit Insurance Corp. “FDIC”, as receiver for Silverton Bank, N.A., on the FDIC’s action on a promissory note. On appeal, Lockwood contends that the trial court erred in granting the FDIC’s motion for summary judgment when 1 the FDIC failed to provide notice in the manner delineated by OCGA § 13-1-11 a 3; 2 there was a genuine issue of material fact as to the amount owed upon the note; and 3 discovery was still pending. For the reasons set forth infra, we affirm.

Viewed in the light most favorable to the nonmovant Lockwood,1 the record reflects that on September 14, 2007, Lockwood executed a promissory note in the principal amount of $120,000.00 with the Bankers Bank, N.A., which later changed its name to Silverton Bank, N.A. Silverton Bank subsequently went into receivership with the FDIC acting as receiver.

Trending Stories

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

LEARN MORE

More From ALM

Premium Subscription
With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Team Accounts
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Bundle Subscriptions
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center
Southeastern Legal Awards 2025
May 01, 2025
Atlanta, GA

The Daily Report is honoring those attorneys and judges who have made a remarkable difference in the legal profession.


Learn More
GlobeSt. Healthcare Real Estate 2024
December 02, 2024 - December 03, 2024
Scottsdale, AZ

Join the industry's top owners, investors, developers, brokers and financiers for the real estate healthcare event of the year!


Learn More
ThinkAdvisor LUMINARIES Awards 2024
December 11, 2024
Las Vegas, NV

This event shines a spotlight on how individuals and firms are changing the investment advisory industry where it matters most.


Learn More
Go to Events Go to Webcasts
(NEW) JUNIOR-MID LEVEL LITIGATION ASSOCIATE WANTED FOR ELITE LITIGATION BOUTIQUE FIRM (Atlanta, GA)

Our client, a boutique litigation firm established by former BigLaw partners, is seeking to hire a junior-mid level associate their rapidly ...


Apply Now ›
CORPORATE ASSOCIATE - CT or Remote

Shipman & Goodwin LLP is seeking an associate to join our corporate and transactional practice. Candidates must have four to eight years...


Apply Now ›
Senior Associate - Boutique -A&D (NYC)

SENIOR ASSOCIATE ATTORNEY, BOUTIQUE LAW FIRM, CORPORATE LAW We provide strategic advisory and legal services to the world's leading archite...


Apply Now ›
Go to Lawjobs