Carmichael v. Rice

MABRY, Chief Justice.

Plaintiff-appellant brought suit for $4,500 as the unpaid balance claimed to be due under the terms of a certain promissory note in the original sum of $5,500 for attorney fees and for a judicial declaration that appellant holds a vendor’s lien to the extent of such unpaid balance against certain real property sold to appellee. The facts are not seriously in dispute and the issues presented reduced themselves almost entirely to a question of law, i.e. the legal effect of an acceleration clause in the note in question. It is conceded that if the acceleration clause is…