Globe Investment Co. v. Barta

The notes secured by the mortgage sought to be foreclosed were each dated June 11th, 1925, and payable six months after date “with interest at the rate of six per centum per annum. ... In the event that this note is not paid at maturity it shall bear interest from date of maturity until paid, at the rate of twelve per centum per annum.” The trial court, in determining the amount of the debt for the purposes of the foreclosure judgment, ruled that the plaintiff could not recover interest at the rate of twelve per cent from and after the date of maturity, December 11th; 1925, as provided by the…