Palmer v. Administrator of Dubois
Supreme Court of South Carolina
This was an action of debt on bond. The bond was granted by Dubois to the plaintiff’s testator; it was dated 20th November, 1778, conditioned for the payment of £15,000 cur-On the bond two receipts were endorone. dated 20th November, 1779, for one interest, and the other the 24th January, 1787, for £524.3.7 sterling.
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This was an action of debt on bond. The bond was granted by Dubois to the plaintiff’s testator; it was dated 20th November, 1778, conditioned for the payment of £15,000 cur-On the bond two receipts were endorone. dated 20th November, 1779, for one interest, and the other the 24th January, 1787, for £524.3.7 sterling. The defendant pleaded solvit ad diem and solvit post diem, and relied on the presumption of payment from the lapse of time between the date of the bond and the commencement of the present suit. The plaintiffs rebutted this presumption by proving that a suit had been instituted…
1Opinion of the CourtCheves, J.
The general rule of the English authorities is, if no interest has been paid on a bond for 20 years, it shall be presumed in law to be satisfied. It has been left to a Jury on sixteen years, where there were circumstances to fortify the presumption. (1 Burr. 434. Cowp. 109.) And no precise time has been fixed. (1 Term Rep. 272.) Sir William Scott has refused to decree on a bottomrey bond after an interval of twelve years. (5 Rob. Adm. Rep. 96.) The foundation of the English' rule, it has been sometimes supposed, was the rate of interest in England, which is 5 per cent, at which rate, in 20…
2Cases cited2 opinions
- Dunlop & Co. v. BallSupreme Court of the United States · 1804
- Grant v. BontzU.S. Circuit Court for the District of District of Columbia · 1819