Beach v. Bennett

On September 28, 1891, the defendant, Mrs. Beach, executed her promissory note, which reads as follows :

“ Five years after date, for value received, I promise to pay to the order of Lyman S. Knight, Three Hundred Sixty Dollars, at Union National Bank, Denver, Colo., with interest at the rate of eight per cent per annum, payable semi-annually, as per ten coupons hereto attached. It is agreed that if this note is not paid at maturity, it shall then draw interest at the rate of ten per cent per annum, and that on failure to pay any installment of interest when due, the holder hereof may collect…