Lee v. O'Quinn

Hutcheson, Justice.

The plaintiffs in error jointly contracted for the purchase of certain property. A down payment was made, and the balance of the purchase-price was to be paid in monthly installments. of named amounts. The contract recited that the joint note given for the balance of the purchase-price contained a stipulation that “in the event of a default in any one installment, which remains in default for five days, then and in that event all future installments will at once, without further notice or action, immediately become due and payable; and in the event of such a default in any…