Security Trust & Savings Bank v. Gallup

I. ' The mortgage in suit was a purchase-money mortgage, which was executed by defendants Gilbert C. Gallup and Edith M. Gallup to plaintiff’s assignors. It bore date October 4, 1917, and bore 5y2 per cent interest, and purported to become due in 10 years from date. The holder of the mortgage elected to accelerate the due date, and to declare the mortgage due forthwith, because of a few days’ delay in the payment of an installment of interest. The right of the assignor to so accelerate the due date was the issue presented by plea in abatement. The right of the mortgagee was sustained by the…