Fletcher v. Dennison

On October 21,1891, the defendants gave their negotiable promissory no.te to plaintiffs for three thousand dollars, due two years after date, with interest at ten per cent per annum payable semi-annually according to coupons attached. The note contained this clause: “If any interest or any installment thereof be not paid whén due, it may be compounded semiannually and added to said principal and thereafter bear interest at the rate of ten per cent per annum; or, at the option of the holder of this note, if said interest or any installment thereof be not paid when due, the whole of said…