Pendleton v. Rowe

Citations

• 34 Cal. 149

Syllabus

<p>Statute op Limitations'.—A note payable six months after date, with interest payable monthly in advance, contained the following clause : “ In case the said interest, or any portion thereof, should become due, and remain unpaid after demand, then the mortgage given by me, of even date herewith, which is given to secure the payment of this note, may be foreclosed,” etc., and the mortgage contained a provision by which the mortgagee was “ empowered to foreclose said mortgage, according to the provisions in said note contained held, that the prompt payment of the interest on demand when it fell due, did not, under these clauses in the note and mortgage, prolong the time of payment beyond the time specified in the note, and that a cause of action accrued upon the note and to foreclose the mortgage, immediately upon the expiration of the six months, although there had been no default in the payment of interest j held, further, that an action not commenced within four years after the expiration of six months from the date of the note, is barred by the Statute of Limitations.</p>