Sanders v. . Hamilton

The question for decision is whether the due date of the note in suit was accelerated by plaintiff’s instruction to foreclose the deed of trust, not only for the purpose of enforcing the lien, hut also as affecting the statute of limitations in respect of the note.

It should he borne in mind that the acceleration clause appears only in the deed of trust, and not in the notes. Indeed, the notes are negotiable on their face with nothing to show they were secured by lien of any kind. A negotiable instrument in the course of trade is supposed to be a “courier without luggage”—Mordecai.…