Cook v. Stellmon

On September 13, 1909, respondent Andrew Stellmon and his wife executed their promissory note in the sum of $4,700 and delivered the same to appellant, together with a real estate mortgage securing payment of the note. By its terms the note was to mature five years after date, and provided for the payment of interest annually, at the rate of seven per cent. Some months before the date of maturity of the note appellant communicated with Stellmon by letter and advised that the mortgage could be taken up when due or allowed to run longer, as it suited Stellmon, who replied, in substance, that he…