Thompson v. Gorner

Citations

• 4 Cal. Unrep. 606
• 36 P. 434
• 1894 Cal. LEXIS 1289

Syllabus

<p>Interest—Rate After Maturity.—Acceptance.—When interest on a note is payable at a certain rate monthly in advance, “and, if said principal or interest is not paid as it becomes due, it shall thereafter bear interest at” a higher rate, acceptance of interest from time to time, for two years after maturity, at the former rate, waives the latter, though this be in no wise a penalty.</p>