Connecticut Mutual Life Insurance v. Westerhoff

On April 2, 1894, -the appellee John Westerhoff and his wife executed and delivered to the appellant a prom*380issory note in the sum of $1,800, payable five years after date, to bear interest at the rate of six per cent per annum, payable semiannually. The note had attached to it ten coupons, each of which evidenced the indebtedness of the makers of the principal note for an installment of the interest which was to become due thereon. In the principal note appeared this sentence: “This note to draw nine per cent interest per annum after default in payment of principal or interest,” and in each…