Davis v. Hinton

OPINION

FONES, Chief Justice.

Appellant executed a note in the principal sum of $4,750.00, payable to appellee with interest from date at 8% per annum. The note, dated on an unspecified day in September, 1972, was given for the balance of the purchase price of certain real property. It called for the payment of $750.00, plus accrued interest, on January 15, 1973, and $1,000.00 per year, plus accrued interest, on January 15 in the years 1974 through 1977. The note did not contain any provision concerning prepayment.

On January 15, 1973, the appellant paid to the appellee the first payment of…