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QUILLIAN, Presiding Judge.
Action on note. DeKalb State Court. Before Judge Seeliger.
Defendant-appellant McCormick appeals on the general grounds from a verdict and judgment for plaintiff-appellee Clemenson in an action to collect on a promissory note. Held:
1. The parties were the two principal stockholders in a corporation they had created to invest in and operate real estate properties. After a few years of operation they agreed in writing that Clemenson, who was the vice president of the corporation, would resign as such and deliver his stock therein to McCormick, who in turn would give Clemenson a promissory note for $20,000 representing a return of the capital Clemenson had invested in the corporation. It is undisputed that Clemenson did resign as vice president and that McCormick signed and delivered the note to Clemenson. The only factual dispute is whether there was a failure of consideration, with Clemenson presenting his testimony and other evidence that the stock had value and that he personally delivered his stock to McCormick and McCormick testifying to the contrary.
We find sufficient evidence of record to support the verdict.
2. Appellee's motion for damages under OCGA 5-6-6 (Code Ann. 6-1801) is denied.
M. Windle Davis, Jr., for appellee.
J. Loren Fowler, for appellant.
Thursday May 21 20:05 EDT

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