Parkyn v. Travis
Supreme Court of Iowa
Appeal from Linn Circuit Court. Action in equity to foreclose a mortgage which was given to secure two promissory notes. Said notes were executed on the 28th day of February, 1877 — one due in five years and the other due in ten years after date, payable to the order of plaintiff, with interest payable annually, at the rate of nine per cent per annum.
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Appeal from Linn Circuit Court. Action in equity to foreclose a mortgage which was given to secure two promissory notes. Said notes were executed on the 28th day of February, 1877 — one due in five years and the other due in ten years after date, payable to the order of plaintiff, with interest payable annually, at the rate of nine per cent per annum. Each of said notes contains a stipulation in these words: “And if the principal or interest of any of this series of notes remains due thirty days, then the whole series, at the option of the holders, shall become immediately •due and payable.”…
1Opinion of the CourtRothrock, J.
i. practice : commencement of action, I. It is urged by counsel for appellant that the action was commenced on the 1st day of April, 1878, when 'the original notice was delivered to the sheriff, and'there was no default in the payment of interest until thirty days from February 28th, and three days of grace, which would not terminate till April 2d.
Conceding that, under the peculiar language contained in the notes and mortgage in this case,-the defendants were entitled to days of grace in the payment of interest — a point which we do not determine — still we think the action was not…
2Cited by10 opinions
- Boone v. BooneSupreme Court of Iowa · 1912
- Hawley v. GriffinSupreme Court of Iowa · 1903
- Proska v. McCormickSupreme Court of Iowa · 1881
- Andrew v. HaagSupreme Court of Iowa · 1932
- Hueston v. Preferred Accident InsuranceSupreme Court of Iowa · 1918
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