Alliance Tr. Co., Ltd. v. Armstrong

In December, 1919, the appellee borrowed $125,006 from the appellant, executing several promissory notes therefor, secured by a deed of trust on land, the last of which to mature being for $45,000, due and payable on the 1st day of January, 1930. Six percent interest was charged on this loan, each year’s interest thereon being evidenced by separate notes therefor. The loan was obtained through brokers to whom the appellee also executed promissory notes for one and one-half percent of the amount of each of the principal notes. The deed of trust contained a clause accelerating the maturity of…