Troup v. Rozman

Rogosheske, Justice.

Plaintiffs appeal from a judgment in favor of defendant and from a denial of their motion for a new trial.

The issue presented is whether defendant’s obligation under a non-negotiable promissory note to pay a percentage of profits in lieu of interest is barred by the statute of limitations where full payment of the principal of the note occurred more than 6 years prior to the commencement of this action to recover unpaid profits. The trial court held plaintiffs’ claim barred, and we affirm.

On January 2,1953, defendant, Jack Rozman, and his partner, now deceased, executed a…