Manes v. Bletsch

The facts in this case, in so far as they are • pertinent to the issues herein, are as follows:

Appellant held two notes against appellee, one for $2,000, due October 1, 1921, and one for $7,500, payable in three installments, on October 1, 1922, 1923, and 1924, respectively; each of said notes bearing interest at the rate of 8 per cent, per annum from date, and each containing the following clause:

“It is understood and agreed that the failure to pay this note or any installment of interest hereon when due shall, at the election of the holder of them or any of them, mature all notes this day…