Guetersloh v. Turner

CHAPMAN, Justice.

This is an appeal by defendants below, Herman Guetersloh and Harold Phelan, from a summary judgment against them rendered for Clay Turner in a suit upon a promissory note executed by appellants in Texas payable to Clay Turner at Lubbock, Texas, in the amount of $16,496.25, payable in three equal annual installments of $5,498.75, and providing that failure to pay any installment or any interest thereon when due, shall, at the option of the holder of said note, mature the full amount.

The first installment became due on January 1, 1966. The makers refused, after demand, to pay…