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HAND v. PELHAM BANKING COMPANY

75601.

186 Ga. App. 520 (1988)

368 S.E.2d 129

HAND et al. v. PELHAM BANKING COMPANY et al.

Court of Appeals of Georgia.

Rehearing Denied March 23, 1988.

Attorney(s) appearing for the Case

Fred B. Hand, Jr., for appellants.

James C. Brim, Jr., Frank C. Vann, for appellees.

BENHAM, Judge.

In an attempt to produce a low-interest loan from the Mitchell County Development Authority (Authority) to Fred Hand III, the following steps were taken: Hand deeded four tracts of land to the Authority; the Authority gave a note and deed to secure debt to appellee Pelham Banking Company (Pelham); the Authority leased the property to Hand; and the Authority assigned the lease to Pelham to secure payment from Hand. The lease agreement required Hand to...

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