Wortman v. Vorhies

Citations

• 14 Wash. 152
• 44 P. 129
• 1896 Wash. LEXIS 326

Syllabus

<p>INTEREST — ENFORCEABLE CONTRACT — COMMUNITY ESTATE — MORTGAGE BY SURVIVOR.</p> <p>■ An agreement to pay interest upon a promissory note at the rate of nine per cent, per annum until maturity, and one per cent, per month thereafter, and also to pay interest upon coupon interest notes attached to the principal note, at the rate of two per cent.' per month after maturity of such interest notes, is enforceable, when the contract was entered into while §2796, Gen. Stat., was in force, which allowed any rate of interest, agreed upon by the parties and specified in writing, to be valid and legal.</p> <p>Where community realty has descended to a husband and surviving children after the death of the wife, a mortgage by him purporting to embrace the whole of such realty is binding and valid, as to his undivided half interest, when there are no community debts nor any necessity for administration.</p> <p>The interest of a surviving husband in community realty claimed as a homestead during the life of the community, is not exempt from, the lien of a mortgage executed by him purporting to cover the whole of the realty.</p>