123 S.W.2d 435 | Tex. App. | 1938
Home Owners' Loan Corporation, a corporation created, organized and existing under and by virtue of an Act of the Congress of the United States,
The note sued upon was payable in installments and its maturity was accelerated by plaintiff on account of the failure of payors to pay certain installments when due. The note was introduced in evidence. No plea of payment was made, nor was it denied that default had been made as to certain of the installments. The special defenses urged will be noted in our conclusions of law.
Appellants further contend that plaintiff is a foreign corporation within the meaning of the Statutes of Texas, and therefore the Court erred in rendering judgment without proof that plaintiff had secured from the Secretary of State of Texas a permit to do business in the State. Art.
Finally, it is urged that the note declared upon was an installment note, that it would be approximately eleven years before the last installment became due, and that there was no proof that defendants defaulted in their payments or that plaintiff exercised its option to declare the note due and payable. Plaintiff alleged that appellants had made default in the payment of said note and certain installments thereof, that the default had existed for more than ninety consecutive days, and that it was exercising its option to declare the entire amount due and payable; that there was further due $64.63 for insurance and that plaintiff had advanced taxes to the Tax Collector of Bexar County for the years 1934 and 1935 and to the Collector of the City of San Antonio and the San Antonio Independent School District for the year 1934. The note provided that default in the payment of any installment for a period of ninety days or a failure to perform any of the conditions of the deed of trust securing the note, should give the holder thereof the option to declare the remainder of the debt due and payable. Among the covenants of the deed of trust upon the part of the appellants was one obligating them to pay all taxes and *437
granting appellee the right to pay the same in the event appellants failed to perform such obligation. The note provided that the amount so paid should be repaid to plaintiff when the next succeeding installment of principal became payable. No plea of payment as to installments alleged to be past due was filed, nor as to the taxes as to which default was alleged. The note declared upon was introduced in evidence and bore no entries of credits showing payment of the installments alleged to be in default. The evidence was sufficient. R.C.S., 1925, Art. 2014; Commercial Inv. Trust, Inc., v. Smart,
We find no reversible error in the record. The judgment of the trial court is affirmed.