Motor & Industrial Finance Corp. v. Hughes

GRAY, Justice.

Appellant sued appellees on and for a declaratory judgment as to the validity of three promissory notes which were executed by appellees and áre payable to appellant at Austin, Travis County, Texas. These notes are: (1) dated November 16, 1951, due November 16, 1961, for $99,900 and on which note $900 has been paid; (2) dated March 20, 1952, due March 20, 1962, for $14,400, and (3) dated May 27, 1953 for $9,376.37 and payable as follows:' 20 per cent of the total amount one year after date and 20 per cent each year thereafter until paid in full, the last payment being due May…