Smith v. Georgia Loan, Savings & Banking Co.
Supreme Court of Georgia
Complaint. Before Judge Reid. City court of Atlanta December 11, 1900. This action was on a note dated February 25, 1896, by which Smith et al. promised to pay to the plaintiff corporation $2,000 on or before 125 months after date, with interest from date, payable quarterly, and agreed that, in case of failure to pay promptly at maturity any of the quarterly instalments of interest, the holder of the note should have the right to declare the note due and collect it by suit.
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Complaint. Before Judge Reid. City court of Atlanta December 11, 1900. This action was on a note dated February 25, 1896, by which Smith et al. promised to pay to the plaintiff corporation $2,000 on or before 125 months after date, with interest from date, payable quarterly, and agreed that, in case of failure to pay promptly at maturity any of the quarterly instalments of interest, the holder of the note should have the right to declare the note due and collect it by suit. The note contained also the following stipulations: “ The maker or makers hereof further agree that in order to provide…
1Opinion of the Court
Cobb, J.. It was argued for the defendants that as the plaintiff had made what is known to the law as a renunciation or anticipatory breach of the contract, the defendants were no longer bound thereby, and could repudiate the contract whenever the plaintiff endeavored to enforce it. The rule of law sought to be invoked was-laid down by the Supreme Court of the United States in a recent case after an elaborate consideration of the authorities. The conclusion reached by the court is thus succinctly stated in the head-notes: "After a careful review of all the cases, American and English,…
2Cases cited1 opinion
- Roehm v. HorstSupreme Court of the United States · 1900
3Cited by37 opinions
- Heery v. ReedSupreme Court of Kansas · 1909
- Cooley v. MossSupreme Court of Georgia · 1905
- Phosphate Mining Co. v. Atlanta Oil & Fertilizer Co.Court of Appeals of Georgia · 1917
- Mendel v. Converse & Co.Court of Appeals of Georgia · 1923
- Piedmont Life Insurance Co. v. BellCourt of Appeals of Georgia · 1961
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