Perkins v. Swain
Idaho Supreme Court
APPEAL from the District Court of the Third Judicial District, for Ada County. Hon. Charles P. McCarthy, Judge. Action to recover on promissory note. Judgment of dismissal. “As a rule, the defense of the statute has been unsuccessful, the courts holding that such a provision is a mere option for the benefit of the mortgagee.” (13 Am. & Eng.
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APPEAL from the District Court of the Third Judicial District, for Ada County. Hon. Charles P. McCarthy, Judge. Action to recover on promissory note. Judgment of dismissal. “As a rule, the defense of the statute has been unsuccessful, the courts holding that such a provision is a mere option for the benefit of the mortgagee.” (13 Am. & Eng. Ency. of Law, 792; Belloc v. Davis, 38' Cal. 242; Keene Five Gent Savings Bank v. Reid, 123 Fed. 221, 59 C. C. A. 225.) The acceleration clause involved in the last case is, in many respects, stronger than the one in the case at bar. The court held that…
1Opinion of the CourtRice, C. J.
This is an action upon a promissory note, bearing date October 21, 1910, due on or before four years after date, which contained the following clause: “With interest thereupon in like money from date until paid, at the rate of eight per cent per annum, interest payable monthly, and, if not so paid, the whole sum of both principal and interest to become immediately due and collectible.”
Interest payments were made at various dates, amounting in all to $917.03, an amount sufficient to pay the interest until September, 1912. The action was commenced October 3, 1919. The note was given in…
2Cases cited41 opinions
- San Antonio Real Estate Building & Loan Ass'n v. StewartTexas Supreme Court · 1901
- First National Bank v. PeckSupreme Court of Kansas · 1871
- Moore v. SargentIndiana Supreme Court · 1887
- Weinberg v. NaherWashington Supreme Court · 1909
- Belloc v. DavisCalifornia Supreme Court · 1869
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3Cited by14 opinions
- Kleiman v. KolkerCourt of Appeals of Maryland · 1948
- Prewett v. First Nat. Bank of HagermanIdaho Supreme Court · 1928
- Mayor of Morristown v. DavisTennessee Supreme Court · 1937
- Andrews v. ZookCalifornia Court of Appeal · 1932
- G. T. Fogle & Co. v. KingWest Virginia Supreme Court · 1948
9 more not listed; retrieve them via the Exa API.