Nickerson v. Swett

In May, 1876, the Wellfleet Insurance Company lent to the Union Wharf Company $5000, and took therefor the note of the wharf company, with Stephen T. Nickerson and Francis Nickerson as sureties, payable on demand, with interest at the rate of six and one half per cent per annum. Interest at that rate was paid for six months, when the words “Interest to be at the rate of 7 per cent per annum from *515November 1, 1876,” were added to the body of the note, and interest at that rate was paid for the six months ending in May, 1877. In October, 1877, the wharf company became pecuniarily embarrassed,…