Carter v. . Duncan
Supreme Court of North Carolina
Civil Action tried at Fall Term, 1880,of AlliígkhaNY Superior Court, before Gilmer, J. On the 18tb of March, 1876, the defendant, J. W„ Duncan, ■esecuted his note under seal and therein promised to pay to the defendant, H. F. Jones, for value received, the sum of f308.4'9 on or before September following, and the like sum on or before March 18th, 1877, with interest from date at the rate of -eight per cent, per annum.
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Civil Action tried at Fall Term, 1880,of AlliígkhaNY Superior Court, before Gilmer, J. On the 18tb of March, 1876, the defendant, J. W„ Duncan, ■esecuted his note under seal and therein promised to pay to the defendant, H. F. Jones, for value received, the sum of f308.4'9 on or before September following, and the like sum on or before March 18th, 1877, with interest from date at the rate of -eight per cent, per annum. On June 20th the payee, H. F. Jones, assigned the note to the plaintiff, and by the terms ef said assignment he bound himself “ for the payment of the same unto him, the said T.…
1Opinion of the Court
Smith, O'. J.,
after stating the case. It was formerly held under rules strictly technical, that a subsequent parol agreement between the parties to an instrument under seal varying its terms, or suspending its operation, or deferring an accrued right of action thereon, was inoperative by reason of its merger in the higher security; and the rule prevails as to promises previous or subsequent alike, where the promise and covenant are the same. Burnes v. Allen, 9 Ired., 370. The effect of a parol agreement, sustained by a sufficient legal consideration, for further forbearance in enforcing the…
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