Purvis v. Carstaphan
Supreme Court of North Carolina
MotioN to dissolve an Injunction, heard before Moore J, at Spring Term, 1875, Maetin Superior Court. The plaintiffs had executed to the defendant a mortgage, a copy of which is hereto annexed. T-he debts to be secured were those of the husband ; the land mortgaged was the property of the wife.
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MotioN to dissolve an Injunction, heard before Moore J, at Spring Term, 1875, Maetin Superior Court. The plaintiffs had executed to the defendant a mortgage, a copy of which is hereto annexed. T-he debts to be secured were those of the husband ; the land mortgaged was the property of the wife. The plaintiff William, traded with the defendant Carsta-phan, to an amount greater than fifteen hundred dollars, and the other creditors secured in the mortgage had been paid in full; and delivered to the defendant Carstaphan, all of the cotton raised on the mortgaged lands, to an amount greater than…
1Opinion of the Court
Reade,SJ.
Where a wife joins her husband in a conveyance of her separate property to sedure a debt of the husband, the relation which she sustains to the transaction is that of surety.
A surety is entitled to the benefit of all the securities which the creditor acquires from the principal debtor. And if the creditor prevents or misapplies such securities, to the prejudice of the surety, he thereby discharges the surety, pro tanto.
It follows that if the defendant creditor acquired any security from 'the husband plaintiff, and perverted or misapplied it, either of his own will, or with the…
2Cited by11 opinions
- Gore v. . TownsendSupreme Court of North Carolina · 1890
- American Blower Co. v. MacKenzieSupreme Court of North Carolina · 1929
- Guilford Lumber Manufacturing Co. v. HolladaySupreme Court of North Carolina · 1919
- Commercial Casualty Insurance v. Durham CountySupreme Court of North Carolina · 1925
- Fitts v. A. F. Messick Grocery Co.Supreme Court of North Carolina · 1907
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