102 Ga. 92 | Ga. | 1897
In June, 1892, John 0. Smith borrowed from Francis J. Champion a considerable sum of money, giving therefor a promissory note due five years after date, with interest at the rate of 8 per cent, per annum until paid. At the same time, Smith also executed and delivered to Champion several other notes for the semiannual interest to accrue upon the main note above mentioned, and by a contemporaneous written contract agreed that in case of any default in paying any one of the several interest notes, the entire debt should become immediately due. The principal note did not specify any place of payment. The interest notes were all made payable at any bank in the city of Savannah. All the notes stipulated for payment “ with current rate of premium on New York exchange." In the contract above referred to, Smith also stipulated that he would -keep insured the buildings on certain realty conveyed to Champion as security for the payment of the loan and the interest thereon. Default having been made
Judgment affirmed, on conditions.