Lubritz v. Circus Circus Hotels, Inc.

OPINION

The present appeal concerns the failure of the district court to enforce the terms of an automatic acceleration clause contained in a promissory note. On July 1, 1982, respondent Circus Circus executed promissory notes to appellants, the Lubritzes and nine other parties not involved in this litigation. The note contained an acceleration clause which provided as follows: “Failure of the maker to pay any installment on the due date shall constitute a default under the terms hereof and the total amount in the sum of . . . $353,333.02 . . ., or the balance remaining, shall then and there…