Black v. Frank Paxton Lumber Company

DIXON, Chief Justice.

Appellant Lawrence Black has appealed from a summary judgment against him in a suit on a promissory note.

On August 24, 1964 appellant signed a note for $12,124.92 payable to appellee Frank Paxton Lumber Company, a corporation, in monthly installments of $2,000 each. The note expressly provides for accelerated maturity upon failure to pay any installment when due, for reasonable attorney’s fee and for waiver of demand and presentment. It also provides that partial payments made before or after maturity shall be without prejudice to the holder.

Appellee alleges that…