Stocking v. Moury
Supreme Court of Georgia
Complaint. Before Judge Brand. Gwinnett superior court. May 4, 1906. On May 11, 1904, Mrs. Stocking executed to Curtis a series of promissory notes, falling due monthly thereafter, the last note being payable April 15, 1910. These notes were indorsed to Moury.
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Complaint. Before Judge Brand. Gwinnett superior court. May 4, 1906. On May 11, 1904, Mrs. Stocking executed to Curtis a series of promissory notes, falling due monthly thereafter, the last note being payable April 15, 1910. These notes were indorsed to Moury. In the notes it was provided that “time is of the essence of the contract, and if any four of said series of notes shall not be paid promptly Avhen due, then all the remaining unpaid notes shall be ■considered as due and collectible, and the right of action thereon .shall, at the option of the holder thereof, at once accrueand that ten…
1Opinion of the CourtBeck, J.
1. It is competent for tlie parties to a series of promissory notes, maturing monthly through several years, to provide that in case default is made in the payment of any one or more of the notes at maturity, time being of the essence of the contract, the entire series shall become due and collectible at once, and if those notes, the maturity of which has been accelerated by the default, provide for the payment of ten per cent, attorney’s fees, the same may be collected in the manner provided by law. Kilcrease v. Johnson, 85 Ga. 600.
2. The notice served upon the defendant in this ease was a…
2Cases cited1 opinion
- Kilcrease v. JohnsonSupreme Court of Georgia · 1890
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- Cooper v. RicketsonCourt of Appeals of Georgia · 1913
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