Cook v. Service Finance Corporation

On December 24, 1942, M. J. Cook executed and delivered to United Amusement Company a promissory note in the principal sum of $1,500.00. This note was payable in eighteen monthly installments, beginning on January 24, 1943, and ending on June 24, 1944. The first seventeen installments are for $83.50, and the eighteenth installment is for $80.50. The above note contains a default maturity clause, which in substance provides that default in the payment of any installment thereon when due shall mature the entire note, at the option of the holder, and without notice or demand. After the execution…