Eli E. Deal v. . D.C. Cochran
Supreme Court of North Carolina
This was a civil action on a note for $372, dated May 6th, L859, tried before Mitchell, Judge, at Pall Term 1871, Catawba Superior Court. The execution of the note was admitted.
Read the full summary
This was a civil action on a note for $372, dated May 6th, L859, tried before Mitchell, Judge, at Pall Term 1871, Catawba Superior Court. The execution of the note was admitted. The defendants introduced testimony to show that the principal in the note proposed to pay the same in Confederate money in 1868, which, the plaintiff declined to receive, but agreed with him, that if he would postpone the payment, he (plaintiff) would release him from interest from that time on, and that the proposition was agreed to. Plaintiff introduced testimony to show that the agreement was different, viz : that…
1Opinion of the CourtReads, J.
It is well settled, that if the creditor enters into any valid contract with the principal debtor, without the assent of the surety, by which the rights or liabilities of the surety are injuriously affected, such contract discharges the surety. A familiar instance of this is, where a creditor binds himself not to sue for, or collect the debt for a given time; and thereby puts it out of the power of the surety to pay the debt, and sue the principal debtor.
It is equally well settled, that mere delay on the part of the creditor to sue for or collect the debt, or even his refusal to do 30 when…
2Cases cited1 opinion
- Howerton v. . SpragueSupreme Court of North Carolina · 1870
3Cited by9 opinions
- Fitts v. A. F. Messick Grocery Co.Supreme Court of North Carolina · 1907
- Scott v. . FisherSupreme Court of North Carolina · 1892
- Neal v. . FreemanSupreme Court of North Carolina · 1881
- Stallings v. . LaneSupreme Court of North Carolina · 1883
- Rea Construction Co. v. Ervin Co.Court of Appeals of North Carolina · 1977
4 more not listed; retrieve them via the Exa API.