Union Central Life Insurance v. Edwards

Opinion op the Court by

Commissioner Sandidge—

Reversing.

On August 1, 1919, appellant, Union Central Life Insurance Company, of Cincinnati, Ohm, lent to appellee J. W. Edwards $12,000, on the 20-year amortization plan, taking from him, as evidence of the indebtedness, 20 promissory notes for $1,046.22 each, one of them due each year for 20 years. To secure the payment of these notes, appellees Edwards and wife executed to the insurance company a mortgage on 479 acres of land owned by him, located in Pulaski county, Ky. Appellee paid the first three notes, and, having defaulted in the payment of…