Dean v. Applegarth

Citations

• 65 Cal. 391
• 4 P. 375
• 1884 Cal. LEXIS 569

Syllabus

<p>Fobeolosure ob Mortgage—Pbomissoby Note—Option ob Payee. — A promissory noto secured by mortgage provided for payment of the interest monthly, and that in default of such payment, the entire unpaid balance of the principal sum should, at the option of the payee, become due and payable. Eeld, that in case of the failure of the maker to pay the interest as agreed, the option of the payee must be expressed by some notice to the maker before advantage can be taken of the defendant.</p> <p>Id.—Interest—Contract bob Increased Interest aeeeb Maturity ob Note. —Under the provisions of section 1919 of the Civil Code, a note cannot he made to bear interest upon unpaid interest at a greater rate than that agreed upon for the principal debt.</p>