Carr v. Doan Savings & Loan Co.

The legal question involved in this case is as follows: How shall interest be figured on a note and mortgage given to secure future advances to be made for the purpose of building construction, when the note and mortgage bear interest from the date thereof, but the sums advanced thereunder were paid out long after the execution of the note and mortgage, and when only-part of the sum upon the face of the note was ever advanced?

Throughout this opinion, as the parties stand in the same position as in the court below, the plaintiff in error will be called the plaintiff, and the defendant in error…