Coffey v. Bosler

Plaintiff owned and 'held a promissory note executed by the two defendants Bolser, dated April 30, 1930,“ due April 30, 193S, secured by second mortgage on certain real prop erty. The mortgage contained the usual acceleration clause applicable in case of failure to pay interest on the note as and when due, or failure to pay taxes against the realty. Defendants had never paid any interest nor any taxes subsequent to the execution of the mortgage. In August, 1934, plaintiff, electing to' declare the mortgage past due by virtue of the acceleration clause, instituted action in the circuit court…