Detroit Trust Co. v. Smith

The declaration filed herein alleged that on August 10, 1927, defendant executed eight promissory notes in the sum of $5,000 each and one in the sum of $4,000, payable to the order of the Guaranty Trust Company of Detroit, trustee, all payable one year after date, with interest at the rate of six per cent, until maturity, payable semi-annually, and thereafter at the rate of seven per cent, until paid; that these notes were duly assigned to the Guaranty Investment Company; that the defendant had paid the interest thereon to February 10, 1928, and that there was then due thereon the principal…