Community Savings and Loan Association v. Fisher

WALKER, Justice.

This is an action for a declaratory judgment to determine the balance unpaid on a promissory note. There is no dispute as to the dates and amounts of the payments that have been made, and the case turns upon the rate of interest and the manner in which the same accrues and is payable under the terms of the loan instruments.

On June 23, 1960, R. L. Fisher and wife, respondents, borrowed $7,200.00 from Fred-ericksburg Savings and Loan Association, now Community Savings and Loan Association, petitioner. As evidence of the indebtedness, they executed to petitioner their note in the…