Bell v. Romaine

The Chancellor.

The complainant, on the 28th of April, 1875, gave to the defendant his bond of that date, secured by his mortgage upon land in Paterson, for the payment of $12,786.66 in five years from that time, with interest thereon, payable semiannually on the 28th of October and April in each year, at the rate of seven per cent, per annum. The bond contained a special condition, which, according to the statements of the declaration in the suit at law on the bond, was, that if any default be made in the payment of the interest or any part thereof on the day when the same was made payable,…