Anthony Investment Co. v. Law

The opinion of the court was delivered by

Johnston, J.:

This was an action to recover on four interest coupon notes, each for the sum of $42, executed by Leroy Law and Dora Law. On April 1, 1887, the Laws borrowed $1200 from the Farmers’ Loan and Trust Company, and executed a promissory note for that amount, with ten interest coupon notes, each for $42, maturing semi-annually. They also executed a mortgage on a tract of land to secure the payment of these notes. At the same time they executed three, additional notes, each for $40, secured by a second mortgage on the same land, payable to an…