Sherwood v. Wilkins
Supreme Court of Arkansas
Appeal from Cross Circuit Court in Chancery. Fexlix GL Taylor, Judge. Where a mortgage provides that, on default of any payment of interest, the whole sum shall become due, and the mortgage may be foreclosed, limitations begin to run when the note matures according to its terms, and not on default in payment of interest. 116 Cal. 232; ib. 220. It is no defense that the Freehold Company is a foreign corporation, and has not complied with § 11, art. 12, of the constitution. 60…
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Appeal from Cross Circuit Court in Chancery. Fexlix GL Taylor, Judge. Where a mortgage provides that, on default of any payment of interest, the whole sum shall become due, and the mortgage may be foreclosed, limitations begin to run when the note matures according to its terms, and not on default in payment of interest. 116 Cal. 232; ib. 220. It is no defense that the Freehold Company is a foreign corporation, and has not complied with § 11, art. 12, of the constitution. 60 Ark. 325. To charge appellant with usury, knowledge on their part of the usurious contract must be proved. 54 Ark. 40;…
1Opinion of the CourtHughes, J.
The bill in this cause was filed in the circuit court of Cross county to foreclose a trust deed executed by the appellees to Sherwood, as trustee, to secure their three notes, payable to appellants, the American Land-Mortgage Freehold Company, Limited, as follows: One note for $166, due December 26, 1886; one note for $166, due December 26, 1887; one note for $168, due December 26, 1888. Attached to the last-mentioned note was an interest coupon for $13.31, due at the same time with the note, to-wit: December 26, 1888. All of said notes and the trust deed were executed on the 26th day of…
2Cases cited5 opinions
- Mason v. LuceCalifornia Supreme Court · 1897
- Banks v. FlintSupreme Court of Arkansas · 1890
- Railway Co. v. Fire Ass'nSupreme Court of Arkansas · 1895
- May v. FlintSupreme Court of Arkansas · 1891
- Sherwood v. HaneySupreme Court of Arkansas · 1896
3Cited by1 opinion
- Hodges v. DilatushSupreme Court of Arkansas · 1940