Woolf
Woolf v. Clarke
Opinion
Lead Opinion
Kerrigan, J.
This is an appeal from a judgment against defendant, taken within sixty days from its entry, in an action upon a promissory note. Plaintiff recovered judgment, and the appeal is by defendant.
In substance the following .are the facts: On the seventh day of November, 1906, the defendant gave her promissory note to C. F. Necklaus for $1,000, payable sixty days after date, with interest at the rate of six per cent per month from maturity until paid. Subsequently, on January 5,1907, C. F. Necklaus duly indorsed this note and transferred it to the First National Bank of Monterey as collateral security for a loan to him. Several months after so receiving this note the bank sold, assigned and transferred it to the plaintiff. Thereafter, the note being unpaid and long overdue, said plaintiff commenced this action to recover the amount of the note and the interest due thereon.
The complaint alleges, among other things, that the clause in said note reading “six per cent per month” was intended to read six per cent per annum.
After answer and trial, judgment went for plaintiff for $1,000, and interest at the rate of six per cent per annum, amounting in all to $1,202.83.