Beck v. Williams

This action is brought to foreclose a purchase-money mortgage given June 2, 1919, to secure the payment of $4,500 payable in equal semi-annual installments of $500 or more, each with accrued interest thereon at five per cent per annum, payable December 2, 1919, and semi-annually thereafter. The mortgage was assigned to plaintiff. The mortgage contains the usual thirty days’ acceleration clause in regard to payment of installments of principal and interest. The plaintiff claims that the defendant Williams failed to pay the $500 installment of principal, due on December 2,1920, together with…