Righetti

The plaintiff brought this action upon a promissory note executed in his favor by the defendant corporation. Plaintiff obtained judgment upon a trial by the court sitting without a jury and defendant appeals.

The note in the sum of $10,000 was executed in 1926. Interest on the note was payable monthly, together with installments of not less than $200 on the principal. The note contained the following provision: “And it is further agreed that in case of default in the payment of said interest for a period of ten days after the same shall become due, and demand having been made therefor, then such interest so in default shall be added to and become a part of the principal and thereafter bear the same rate of interest; and at any time during default in the payment of said interest, or in the payment of any installment of principal in the manner aforesaid, for a period of ten days and after demand having been made therefor, the entire unpaid balance of said principal and the interest thereon, shall forthwith become due and payable at the election of the holder of this note, without notice.” Defendant failed to pay the interest and installment due upon December 15, 1928, and plaintiff…