Roberts v. Grise

This is an action in contract in which the plaintiff seeks to recover money owed on two promissory notes. The case was submitted to a judge of a District Court in the form of a stipulation of agreed facts. The parties agreed that the defendant owed the plaintiff the sum of $33,500 principal, and $1,340 in unpaid accrued interest, through May 15, 1976. Each of the notes contained a promise to pay the principal sum “on or before May 15, 1976, with interest at the rate of ten (10) per cent per annum payable bi-monthly.” There was no express provision concerning interest obligations after the due…