Koger v. City Developing Corp.

In 1927, D. W. Koger and his wife, the plaintiffs in error, borrowed from the City Developing Corporation, a building and loan association of the city of Roanoke, the defendant in error, the sum of $2,650.00. They executed 100 notes, one maturing each subsequent month, for the aggregate sum of $3,975.00. The notes were for $39.75 each. The aggregate sum represented the principal amount of the loan and the interest calculated at 6% per annum at the date of the loan for the entire period of 100 months, or 8 years and four months.

The first 63 notes were paid very nearly at the time of maturity.…