Cheney v. Overmyer

April 27, 1940, respondents borrowed from appellant $65, giving, as required by appellant, their installment note, due in five months, for $85.50, bearing 8% interest per annum on delinquent deferred payments of $17.10 per month, with an acceleration clause, secured by a chattel mortgage on certain cows. By July 28, 1940, $23.10 had been paid; no further payments being made, interest on the balance of $62.40 face of the note became payable.

December 13, 1940, appellant by notice and sale 1 commenced foreclosure proceedings of the chattel mortgage for $62.40 and interest at 8% from June 28,…