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Law Term

LAW DAY

Definition of LAW DAY:

The day prescribed in a bond, mortgage, or defeasible deed for payment of the debt secured thereby, or, in default of payment, the forfeiture of the property mortgaged. But this does not now occur until foreclosure. Ward v. Lord, 100 Ga. 407, 28 S. E. 440; Moore v. Norman, 43 Minn. 428, 45 N. W. 857, 9 L. R. A. 55, 19 Am. St. Rep. 247; ICortright v. Cady, 21 N. Y. 345. 78 Am. Rep. 145.