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Nash v. Township Invs. LLC

The terms of a promissory note did not specify the nature of the consideration and genuine issues of material fact remained as to whether the defendants received satisfaction of prior indebtedness to an investment company as consideration in exchange for execution of the promissory note.

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Township Investments, LLC brought an action on a promissory note executed by Norman Nash and Norris Nash. The parties filed cross-motions for summary judgment, and in the order on appeal the trial court granted summary judgment to Township and denied summary judgment to the Nashes. Because there exist genuine issues of material fact about whether the Nashes received consideration for the note, summary judgment is not appropriate in this case. Accordingly, we reverse the grant of summary judgment to Township. The Nashes have not asserted as error the trial court’s denial of their cross-motion for summary judgment, and we affirm that portion of the trial court’s order.

Summary judgment is appropriate where there is no genuine issue as to any material fact and the moving party is entitled to judgment as a matter of law. OCGA § 9-11-56 c. “On appeal from the grant or denial of a motion for summary judgment, we review the evidence de novo, and all reasonable conclusions and inferences drawn from the evidence are construed in the light most favorable to the nonmovant.” Citation omitted. Spectera, Inc. v. Wilson, 317 Ga. App. 64, 66 730 SE2d 699 2012.

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