Thompson v. Kansas City Life Ins. Co.

ALEXANDER, Justice.

In 1921, J. P. Thompson and wife borrowed $4,000, for which amount they executed their note payable to Ward-Harrison Mortgage Company in ten years, bearing interest at the rate of 6 per cent, per annum, as per interest coupons attached. Said note was secured by a first lien on a tract of land. As a part of the same transaction, the debtors executed their note for $397.80, representing one per cent, interest on the $4,000 indebtedness above referred to, payable $37.80 on the first day of November, 1922, and $40 each year thereafter until the full amount was paid. Said note…