Blucher v. Eubank

On March 16, 1915, B. A. Eubank and wife executed a promissory note for the sum of $1,050, payable, to the order of R. D. Sands, due three years after date, and bearing interest at the rate of 10 per cent, per annum. It was provided in the note that the interest was payable annually as it accrued, and failure to pay any annual installment thereof when due should, at the election of the holder, mature the note. The note was secured by deed of trust on land which was afterwards deeded by the Eu-banks to one Luellen, who assumed payment of the above note. The note also contained the following…