¶1The real question is, whether after the expiration of a year from the date of the contract, the first $1,000 being paid, anything can be recovered on this contract? We understand the legal effect of the contract to be, to pay in four equal annual instalments, and the plaintiff can therefore recover the $1,000 with interest. Judgment accordingly.
1 Wright 581
Armstrong v. Moreton
Decided May 15, 1834
Ohio Supreme Court · decided 1834-05-15
<p>Covenant to pay instalments — construction.</p> <p>A covenant to pay $5,000, viz., $1,000 in ten days from date, and the balance of $4,000 in four annual payments with interest from date, is, in legal effect, a covenant to pay in $l,000 yearly instalments.</p>
Decided 1834-05-15