Houchard v. Berman

WINDES, Justice.

Plaintiff-appellant W. C. Houchard loaned defendant-appellee William Berman the sum of $3,000 and took his promissory note dated April 18, 1952, due in three years and secured by a real estate mortgage. The note provided for eight percent interest payable annually. On August 29, 1953, plaintiff filed suit upon the note and sought to foreclose the mortgage. As a basis for the cause of action, the complaint alleged:

“That because of the provisions of said note there became due on the 18th day of April, 1953, an interest. installment of $240.00 and a like installment of $240.00 on…