Henry v. Moister

Sognier, Judge.

On November 4, 1974, appellants Henry and Kalb executed a non-negotiable promissory note in the amount of $191,000 to Bentley in exchange for Bentley’s interest in 22.5 acres of land. Interest on the note was 6 % per annum on the principal, payable on “the 4th day of each year, commencing on the 4th day of November, 1975.” The principal sum was due in its entirety on or before November 4,1980. The note provided that upon default of any installments, the unpaid balance of the principal would become due and payable.

In April, 1975, Bentley assigned the note to one B. L. Twiggs to…