9 La. 476 | La. | 1836
delivered the opinion of the court.
The plaintiffs having obtained an order of seizure and sale, of certain property mortgaged to the bank, to secure the payment of a loan, the defendants took a rule on them to show cause, why the order of seizure should not be set aside on their paying the sum of ten thousand dollars, with interest from the day the same was issued. The court discharged the rule, and ordered the sheriff to proceed' on the writ, to make the principal sum, with interest, at eight per. cent, from the 30th of December, 1831, when the debt fell due ; and the defendants have appealed.
By that act, it was stipulated that the defendants might at the time the note should fall due, prolong the payment of one the sum f°r another year, upon the payment of a discount for that period, the note to remain in possession of {foe bank, and the payment which might be made to be credited upon it. It was further stipulated, that if they should fail to make the payment of one-half, they should lose the - advantage of prolonging the payment, and shall be subiect, ° r & & r J ’ _ J to be prosecuted for the whole sum due to the association, as well principal as interest, and costs due and incurred, and t0 become due ancl be incurred, “ tant en capital qu’en intérét et frais échu, et faits et a échoir et h faire.”
This clause seems to contemplate the payment of interest 00 the defendants failing to comply with the stipulation in their favor, that the payment of one-half might be prolonged for another year, upon their paying one-half the principal, and discount on the other half for another year; it would be a forced construction of this contract, which should enable the defendants to gain any advantage from their own failure, to avail themselves of a stipulation in their favor. They were promised a delay of another year, for one half the debt, on fq,e paymeht of interest, and now they seek to avoid the 1 J 7 J t t payment of interest altogether, except from judicial demand,
It is, therefore, ordered, adjudged and decreed, that the judgment, of the District Court be affirmed, with costs.