Mobray v. Leckie

The mortgage exhibited with the bill of complaint was executed by Hooper R. Mobray and wife, on the 3rd day of June 1871, and was intended to secure to the mortgagee Mary L. Mobray, the sum of $1415.73, with interest thereon from its date. The principal sum to be paid in four equal annual instalments, counting from May 1st 1873. The whole accruing interest to be paid annually. Consequently the interest for one year fell due on the 3rd day of June 1872. The mortgage contains the following stipulation : “ And in default of payment of any of said instalments, or the annually accruing interest,…