General American Finance System, Inc. v. Brodnax

TALIAFERRO, Judge.

On June 30, 1930, defendant and his wife negotiated a loan of $300 with the Guaranty Finance Company, of Bastrop, La., and executed their note therefor, payable in monthly installments of $15 and stipulating interest at the rate of 3 ⅛ per cent, monthly. The note was secured by mortgage of the makers on some household furniture. It contains a stipulation that in event counsel is employed to enforce its payment, the makers will pay the fee of such counsel, which is fixed therein at 10 per cent, of the amount sued for, if such amount exceeds $100.

In due course said note was…