Hamby v. Hamby

1. A promissory note payable in 36 monthly instalments, maturing at a date subsequent to the institution of an action upon it, and containing a stipulation to the effect that if any instalment be in default the payee or holder of the note may, at his option, treat the entire amount as due and payable, is not an unconditional contract. Jones v. North American Life Ins. Co., 46 Ga. App. 647 (168 S. E. 923); Dye v. Garrett, 78 Ga. 471 (3 S. E. 692); Rodgers v. Caldwell, 112 Ga. 635 (37 S. E. 865); Howard v. Welham, 114 Ga. 934 (41 S. E. 62).

2. Where, in an action on such a promissory note as…