Jones v. . Ashford
Supreme Court of North Carolina
, Ciyil ActioN, tried at Spring Term, 1877, of- Sampson Superior Court, before Segmour, J. On the 6th of March, 1869, the' defendant sold and conveyed to one B. L. Scott a tract of land. Scott gave his note for the purchase money, and secured its payment by a mortgage on the land.
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, Ciyil ActioN, tried at Spring Term, 1877, of- Sampson Superior Court, before Segmour, J. On the 6th of March, 1869, the' defendant sold and conveyed to one B. L. Scott a tract of land. Scott gave his note for the purchase money, and secured its payment by a mortgage on the land. On the 15th of May thereafter, the defendant assigned the note to the plaintiff without endorsement, and at the same time gave the plaintiff a paper writing in the nature of a guaranty, by which the defendant agreed to guarantee the payment of the note in case the plaintiff failed to collect it. At the time of the…
1Opinion of the CourtFaircloth, J.
The defendant held a promissory note against one Scott, secured by a mortgage on real estate. He transferred said note for value to the plaintiff without endorsement, and at the same time agreed in writing “ to guarantee the payment of the aforesaid note to the said Jones, and in case she fails to recover the money on said note, that I (he) will pay to her the principal and interest and costs due thereon.” At the time of the transfer, the defendant proposed to plaintiff to transfer the note and mortgage without any guaranty, but the plaintiff declined this arrangement, saying, that she…
2Cases cited1 opinion
- Hyman v. . Devereux and OthersSupreme Court of North Carolina · 1869
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