Hubbard v. McRae

Lumpkin, Justice.

This was an action in a justice’s court upon two promissory notes for fifty dollars each, dated January 6th, 1891, due twelve months after date, bearing interest from date at eight per cent, per annum, and each containing a stipulation in the following words: “If this note is not paid as agreed when due, at the end of one year from this date, and annually thereafter, it is hereby *706agreed for the interest accrued to become principal and to draw interest at the agreed rate, and to be counted in that way.” Each of the notes was credited, on November 3d, 1892, with fifteen…