Shumate v. Prague National Bank

BERRY, Justice.

The parties will be referred to herein by name or as they appeared in the trial court which is in reverse order to their appearance here.

On August 30, 1957, defendants executed a promissory note payable to plaintiff. The note was in the principal amount of $2,505.-96, which amount was payable $139.22 on the 15th of each month. The note provided for interest at 10 per cent per annum and further provided that “if any installment hereof shall become delinquent for a period of fifteen days after the same shall be due, the holder hereof shall become entitled to a ‘late charge’ of…