Stults v. Silva
Massachusetts Supreme Judicial Court
Contract against Manuel Silva and Benjamin B. Newhall. The first count alleged that Silva made a promissory note, a copy of which was annexed, payable to Newhall or order, and that Newhall, “ waiving demand and notice, indorsed the same to the plaintiff,” and that Newhall owed the plaintiff the amount of the note and interest thereon.
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Contract against Manuel Silva and Benjamin B. Newhall. The first count alleged that Silva made a promissory note, a copy of which was annexed, payable to Newhall or order, and that Newhall, “ waiving demand and notice, indorsed the same to the plaintiff,” and that Newhall owed the plaintiff the amount of the note and interest thereon. The copy of the note was as follows: “$2268.00. Boston, February 1st, 1872. For value received, I promise to pay to Benjamin B. Newhall, or order, $2268.00 in one and a half years, or sooner at the option of the mortgagor, from this date, with interest to be…
1Opinion of the CourtGray, C. J.
Each of the instruments in suit expresses a promise to pay a certain sum of money in a year and a half from its date, “ or sooner at the option of the mortgagor,” with interest at a certain rate “ during said term.”- The principal sum is to be paid, either at the time specified, or at any earlier time that the mortgagor may elect. The interest is to be computed only until the note is paid. Both the time of payment of the principal, and the amount of interest, are uncertain, and depend upon the election of the mortgagor, who would seem, from the memorandum upon the note itself, to be the maker…
2Cases cited2 opinions
- Davis v. TravisMassachusetts Supreme Judicial Court · 1867
- Way v. SmithMassachusetts Supreme Judicial Court · 1873
3Cited by18 opinions
- Greenfield Savings Bank v. StowellMassachusetts Supreme Judicial Court · 1877
- Costelo v. CrowellMassachusetts Supreme Judicial Court · 1879
- Towne v. RiceMassachusetts Supreme Judicial Court · 1877
- First National Bank of Elgin v. RussellTennessee Supreme Court · 1911
- Jewett v. TuckerMassachusetts Supreme Judicial Court · 1885
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