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HANE v. EXTEN

[No. 56, September Term, 1969.]

255 Md. 668 (1969)

259 A.2d 290

HANE v. EXTEN, ET AL.

Court of Appeals of Maryland.

Decided December 2, 1969.

Attorney(s) appearing for the Case

William E. Gallagher, Jr. for appellant.

Harvey B. Steinberg for appellee.

The cause was argued before HAMMOND, C.J., and BARNES, McWILLIAMS, FINAN and SINGLEY, JJ.

SINGLEY, J., delivered the opinion of the Court.

John B. Hane is the assignee of the note of Theta Electronic Laboratories, Inc. (Theta) in the stated amount of $15,377.07, with interest at six per cent per annum. The note was dated 10 August 1964; stipulated that the first monthly payment of $320.47 would be due five months from date, or on 10 January 1965; and that "In the event of the failure to pay the interest or principal,

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