Miracle Kids Success Academy, Inc. v. Maurras

The Supreme Court affirmed the circuit court's order granting summary judgment in favor of Appellee in this contract dispute, holding that the circuit court did not err in concluding that Appellee's loan to Appellant was payable on demand because the loan agreement did not have a maturity date.After Appellee demanded repayment of his loan and Appellant refused Appellee sued for repayment of the loan and attorney's fees. The circuit court granted Appellee's summary judgment motion, concluding that because the loan did not have a maturity date it was payable on demand. The court also awarded Appellee attorney's fees. The court of appeals reversed, holding that genuine issues of material fact existed as to whether the loan agreement was an on-demand contract. The Supreme Court vacated the opinion of the court of appeals and affirmed the judgment of the circuit court, holding (1) because the loan agreement was silent as to the maturity date, it was payable on demand; and (2) the attorney's fees and costs award was proper. View "Miracle Kids Success Academy, Inc. v. Maurras" on Justia Law