Royal v. Edinburgh-American Land Mortgage Co.
Supreme Court of Georgia
Complaint. Before Judge George. Crisp superior court. February 26, 1914. John Henry Bedgood gave to the Edinburgh-American Land Mortgage Company Limited a promissory note dated October 4, 1909, and due October 4, 1919, for the principal sum of $6,000, with interest at seven per cent, per annum, payable annually, for which interest coupon notes were annexed to the principal note.
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Complaint. Before Judge George. Crisp superior court. February 26, 1914. John Henry Bedgood gave to the Edinburgh-American Land Mortgage Company Limited a promissory note dated October 4, 1909, and due October 4, 1919, for the principal sum of $6,000, with interest at seven per cent, per annum, payable annually, for which interest coupon notes were annexed to the principal note. The note included this provision: “And should any default be made by me in the payment of either interest coupons hereto annexed, as stipulated, then the principal of this obligation, in the discretion of the holder,…
1Opinion of the CourtLumpkin, J.
(After stating the foregoing facts.)
1. There was no error in sustaining the demurrer to the plea which prayed that the action be held to be barred and also that it be abated. The plaintiff held a promissory note the principal of which fell due, unless accelerated, on October 4th, 1919. It contained a provision that if- any default should be made “of either interest coupons hereto annexed, as stipulated, then the principal of this obligation, in the discretion of the holder, shall become due and payable at the date of such default, regardless of the date of maturity.” Interest was payable…
2Cases cited1 opinion
- Morgan v. Kiser & Co.Supreme Court of Georgia · 1898
3Cited by9 opinions
- Security Mortgage Co. v. PowersSupreme Court of the United States · 1928
- Williams v. McCartyWest Virginia Supreme Court · 1918
- In Re Centre Court Apartments, Ltd.United States Bankruptcy Court, N.D. Georgia · 1988
- Bradley v. SwopeWest Virginia Supreme Court · 1915
- Wynndam Court Apartment Co. v. First Federal Savings & Loan Ass'nSupreme Court of Georgia · 1948
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