Morris Plan Bank v. Schmidt

McCALL, Judge ad hoc.

Morris Plan Bank, in liquidation, brings this suit against Fred J. Schmidt, Robert J. Maloney, and Louis C. Spear on their promissory note for $180, dated October 28, 1932, payable to the order of “Community Credit Corporation” in twenty monthly installments of $9 each, with 2½ per cent, interest per month on the unpaid balance. Though the note was dated October 28, 1932, and provided that the interest stated should be paid “from date on the unpaid balance until paid,” the petition claimed interest only from October 28, 1933. Joint answer was filed on behalf of the three…