Gaines v. Gaines

SPEER, Justice.

On January 20th, 1937, Sidney A. Gaines sued “’Milton J. Gaines and Mrs. Marion Gaines” in a district court of Wichita County, Texas, for balance remaining unpaid on a promissory note dated June 1st, 1931, payable $200 on July 5th, 1931, $250 on July 5th, 1932, $300 on July 5th, 1933, and $300 on the 5th day of each month thereafter until the principal and interest were paid; the obligation provided for interest at six per cent per annum after maturity, and contained an accelerating maturity clause, to be exercised at the option of the payee upon failure to.pay any installment…