Boyd

The appeal is from the judgment rendered in favor of plaintiff by the superior court of San Joaquin County. The defendant Bearce was indebted to plaintiff in the sum of $2,958.68, evidenced by his promis sory note in that amount, dated April 22, 1916, bearing interest at the rate of seven per cent per annum. Said note required the “interest to be paid annually, and if not so paid as it becomes due, to bear interest at the same rate as said principal sum, but if default be made in the payment of interest, then the principal sum of this note shall immediately become due at the option of the holder hereof.” The first year’s interest on the note was not paid and plaintiff’s attorneys wrote to defendant Bearee on May 11, 1917, demanding payment of the interest, and again on May 18th following, notifying said defendant that the plaintiff elected to declare the whole of said note due, and demanding payment of the sum. On May 22, 1917, defendant wrote to said, attorneys that he had paid the note in full, having purchased the same from the defendant M. P. Fries on or about the eighteenth day of May, 1917. About the fifteenth day of May, 1917, defendant Fries called upon plaintiff for the…