Becker v. Lammers, 39785
| Decision Date | 22 May 1975 |
| Docket Number | No. 39785,39785 |
| Citation | 229 N.W.2d 557,193 Neb. 839 |
| Parties | Eleanor BECKER, Administratrix of the Estate of Mary Lammers, Deceased, Appellee, v. Jerome B. LAMMERS, Appellant. |
| Court | Nebraska Supreme Court |
Syllabus by the Court
When the acceleration provision of an installment note is optional with the holder of the note, the statute of limitations commences to run upon each installment as it becomes due in the absence of an effective declaration that the entire amount is due.
David A. Domina, Jewell, Otte, Gatz & Collins, Norfolk, for appellant.
Ryan, Scoville & Uhlir, Robert G. Scoville, South Sioux City, P. F. Verzani, Ponca, for appellee.
Heard before WHITE, C.J., and SPENCER, BOSLAUGH, McCOWN, CLINTON and BRODKEY, JJ.
This was an action filed November 8, 1966, by the administratrix of the estate of Mary Lammers, deceased, upon a promissory note signed by the defendant and Reinold A. Lammers, his brother. The note was dated March 1, 1950, and was in the amount of $16,262. The note was payable in annual installments of $500 commencing March 1, 1951, and contained an acceleration clause, at the option of the owner, in the event of default in any payment.
Payments of $500 on March 1, 1951, and March 1, 1952, were endorsed on the back of the note. The petition alleged no other payments had been made and declared the entire balance due except as to payments due in 1961 and prior years.
The answer admitted the execution and delivery of the note but alleged payment and that the action was barred by the statute of limitations.
The trial court found that all payments due before November 8, 1961, were barred by the statute of limitations, but the plaintiff was entitled to recover $15,564.40 plus interest from May 8, 1969. The defendant has appealed.
The note was given as a part of a transaction in which the defendant and his brother contracted to purchase approximately 1,120 acres of land owned by their father together with farm machinery, grain and a half-interest in livestock owned by their mother. The note represented the consideration for the sale of farm machinery, grain and interest in livestock except for a downpayment of $100.
This case involved some of the same issues and was consolidated for trial with Lammers v. Lammers, Neb., 229 N.W.2d 555.
The defendant's claim of payment was based upon the contention that he had agreed to provide a home for his parents and his performance of that agreement had satisfied the...
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National Bank of Commerce Trust & Savings Ass'n v. Ham, s. S-97-1120
...individually from the time it becomes due. See, Bauers v. City of Lincoln, 245 Neb. 632, 514 N.W.2d 625 (1994); Becker v. Lammers, 193 Neb. 839, 229 N.W.2d 557 (1975). Where a contract contains an option to accelerate, the statute of limitations for an action on the whole indebtedness due b......
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...661, 881 N.W.2d 579 (2016).15 See City of Lincoln v. Hershberger , 272 Neb. 839, 725 N.W.2d 787 (2007). See, also, Becker v. Lammers , 193 Neb. 839, 229 N.W.2d 557 (1975).16 See Mackiewicz v. J.J. & Associates , 245 Neb. 568, 514 N.W.2d 613 (1994).17 See PSB Credit Servs. v. Rich , 251 Neb.......
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Honn v. National Computer Systems, Inc.
...statute of limitations. See, e. g., Chase National Bank of City of New York v. Burg, 32 F.Supp. 230 (D.Minn.1940); Becker v. Lammers, 193 Neb. 839, 229 N.W.2d 557 (1975); Frenzel v. Frenzel, 260 Iowa 1076, 152 N.W.2d 157 Furthermore, the general rule applies even though the settlement agree......
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Lammers Land and Cattle Co., Inc. v. Hans
...against Jerome Lammers upon a promissory note. This case was appealed to this court and affirmed May 22, 1975. Becker v. Lammers, 193 Neb. 839, 229 N.W.2d 557 (1975). On May 22, 1969, in case No. 5986, Ignatz Lammers obtained a judgment upon a petition which alleged that Jerome Lammers was ......