Smith v. . HolmesSmith v. . Holmes
- Reporters:
- ,
- Before:
- Johnson
The bond in this case is dated May 10, 1853, and is conditioned to be void if the obligor pay the sum therein mentioned “in two years from the first day of April [then] last with annual interest.” The demurrer was tried June 12th, 1854. If, therefore, anything was due at that time on the bond, the plaintiff was entitled to judgment. The precise amount due was not brought in question by the demurrer; that only presents the inquiry whether anything was due. Now, whether interest was to be computed from May 10, 1853, or from the first day of April, 1853, it is quite clear that the requirement of annual interest could not be satisfied by the payment of principal and interest, when the principal should become due. The obvious import of the language employed is that an annual payment of interest is to take place, and whether that became due on the 1st of April, or the 10th of May, 1854, is immaterial, as the case is here presented.
The judgment at general term should, therefore, be affirmed.
All the judges concurring,
Judgment affirmed.