Kuttner v. MAY REALTY COMPANY

Quillian, Justice.

The instant case involves the construction of a contract for the sale of certain shares in a corporation. The plaintiff alleges that she sold the shares to the defendant corporation for a certain stated sum as down payment with the balance to be paid by a series of 13 promissory notes which became due over a 13-year period. The written contract attached to the petition as an exhibit provided: “Each note is to bear interest at rate of five percent (5%) per annum, interest payable annually. Each note shall be payable on or before maturity.” According to the allegations of the…