Dale Holding Corp. v. Dale Gardens, Inc.

This is an action at law to recover the principal sum, with interest thereon, of consolidated bonds executed by the defendant in connection with two mortgages, also consolidated, covering real property in the county of Queens. The case was tried at Trial Term, a jury having been waived.

By the terms of the several obligations above mentioned it is provided that the whole of the principal sum “ shall become due after default in the payment of any instalment of principal for twelve days or of interest for twelve days.”

The plaintiff claims that the defendant has failed to comply with the terms…