Barbour v. Finke

This was an action brought to foreclose a real estate mortgage dated January 11, 1915, securing a promissory note for $3,500 of even date due on or before 10 years after date, with interest at 6 per cent, per annum payable annually. In March, 1918, the'note was indorsed in blank by the payees and delivered to plaintiff, and the mortgage was assigned to plaintiff. The mortgage, but not the note, contained the usual acceleration clause, which provided that upon default in the payment of interest the holder might declare the whole sum due. Default in the payment of interest due January, 1921,…