114 So. 89 | La. | 1927
Plaintiff sets forth, in paragraph II of its petition, that it is the holder and owner, and that defendant is the indorser, of four certain promissory notes aggregating $3,200, as follows, to wit:
One for $1,200, drawn by Eugene Gerald, dated March 26, 1926, and payable in twelve monthly installments of $100 each;
One for $800, drawn by Allen McCants, dated April 9, 1926, and payable in four trimonthly installments of $200 each;
One for $600, drawn by C.H. Denton, dated April 14, 1926, and payable in twelve monthly installments of $50 each; and,
One for $600, drawn by T.M. Henry, dated April 21, 1926, and payable in four trimonthly installments of $150 each;
And that each of said notes bears interest at the rate of 7 per cent. per annum from date until paid.
"A failure to pay any installment of this note as it falls due, together with the interest thereon, shall mature this note in its entirety; and an attorney's fee of 25 per centum upon the total amount due shall attach to this note in the event it should be placed in the hands of an attorney for collection after a failure to pay any installments with interest.
"Protest and notice of protest and nonpayment waived by all signers and indorsers of this note."
(a) That as the first installment on each of said notes came due, payment was demanded of each of the respective makers thereof, but that no payments were made until after the due date of each of the first installments of the said notes, and after each of said notes had matured in its entirety; and
(b) That subsequent payments have been made of the following amounts, and no others, to wit: *442
$ 50 on May 22, 1926, $100 on May 28, 1926, $100 on June 10, 1926, $ 50 on June 28, 1926, $100 on July 12, 1926, $ 50 on August 7, 1926, $200 on September 16, 1926, and $650 on October 6, 1926,
Making a total of $1,300 up to October 6, 1926.
And plaintiff was given judgment as prayed for on the face of the petition and answer.
Moreover, at the time this suit was filed other installments on said notes had become due and were still unpaid, which again had *443 the effect of maturing the whole unpaid balance on said notes.
The decree must therefore be recast accordingly.