Rivers v. Rivers

MARVIN, Judge.

The issue in this appeal is whether the mere refusal of the holder of a promissory note to accept the tender of three installment payments on the note, two of which were past due and the other not yet due, is sufficient to accelerate maturity of the note under this acceleration clause:

“Failure to pay any two (2) successive installments on this note at maturity shall, at the option of the holder and owner, mature this note in its entirety and render it due and exigible for the unpaid balance, including principal, interest, attorney’s fees and costs.”

The note also contains the…