Phillips v. Union Central Life Ins.

STONE, Circuit Judge.

Appellants executed a principal note and annual coupon interest notes payable to appellee and secured by a mortgage on land located in Minnesota. After default in payment of several interest notes, this action was filed for recovery on the notes. A .verdict for plaintiff was directed, and *189jrom the judgment thereon this appeal is brought. The main issue presented here is that this action was prematurely brought because of a provision in section 4 of the Moratorium Act of Minnesota of 1935 (Laws 1935, c. 47). The portion of the section involved is as follows: “Provided,…