Leonard v. Olson
Supreme Court of Iowa
Appeal from Sac District Court. — Hon. C. D. Goldsmith, Judge. Defendant’s motion to strike certain parts of the plaintiffs’ amended and substituted petition was sustained, and also their demurrer to said petition as it stood after striking out the matter in said motion complained of. Plaintiffs electing to stand upon their petition, judgment was entered against them for costs, from which they appeal.
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Appeal from Sac District Court. — Hon. C. D. Goldsmith, Judge. Defendant’s motion to strike certain parts of the plaintiffs’ amended and substituted petition was sustained, and also their demurrer to said petition as it stood after striking out the matter in said motion complained of. Plaintiffs electing to stand upon their petition, judgment was entered against them for costs, from which they appeal. Prom the terms of the note itself it clearly appears that it was the intention'of the parties that the note should be a continuing security, and that at the option of the holder it might be a…
1Opinion of the CourtGiven, J.
Plaintiffs seek by this action to charge the defendant as indorser of the note set out, which note and indorsement are as follows:
*168“$2,225.00. Dayton, Iowa, Jan. 22nd, 1884.
“On demand,-after date, for value received, we promise to pay to Jonas O. Olson, or order, twenty-two hundred and twenty-five dollars, at Dayton, Iowa, with interest at ten per cent, per annum, payable annually. And interest in arrears shall draw ten per cent, till paid, and, in case of non-payment of interest when due, the whole sum of principal and interest to become due and collectible at the holder’s option. And in any…
2Cases cited15 opinions
- Payne v. . GardinerNew York Court of Appeals · 1864
- Wheeler v. . WarnerNew York Court of Appeals · 1872
- Herrick v. . WoolvertonNew York Court of Appeals · 1870
- Lockwood v. CrawfordSupreme Court of Connecticut · 1847
- McGruder v. Bank of WashingtonSupreme Court of the United States · 1824
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3Cited by4 opinions
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- Oley v. MillerSupreme Court of Connecticut · 1901