Scott v. . Harris
Supreme Court of North Carolina
Contract— Principal ancl Surety — Agreement to Forbear. Civil ActioN tried at Fall Term, 1876, of CabarRüs Superior Court, before Schenck, J. The plaintiff demanded payment of a note for $1,100 made payable to himself and signed by Julius Israel, principal, and R. S. Harris and I). Gr. Holbrooks, sureties. The note was dated Nov. 2, 1872, bearing interest thirty days after date at eight per cent.
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Contract— Principal ancl Surety — Agreement to Forbear. Civil ActioN tried at Fall Term, 1876, of CabarRüs Superior Court, before Schenck, J. The plaintiff demanded payment of a note for $1,100 made payable to himself and signed by Julius Israel, principal, and R. S. Harris and I). Gr. Holbrooks, sureties. The note was dated Nov. 2, 1872, bearing interest thirty days after date at eight per cent. There was an endorsement on the note acknowledging the payment of interest to January 1st, 1874. The defendants, sureties, resisted the payment of the amount upon the ground that the plaintiff and…
1Opinion of the CourtReads, J.
There is sympathy for a child who in reaching too far for a flower falls over the brink and is lost, but a creditor who clutches eighteen per cent, from the principal debtor under a contract for indulgence until he goes iúto bankruptcy and then reaches farther to collect the principal money out of the sureties, deserves a fall.
As soon as a debt is due and payable, if the principal debtor does not pay it, the surety may pay it and immediately sue the principal for money paid to his use. If therefore the creditor agrees with the principal debtor in such manner as that he is bound by the…
2Cited by10 opinions
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- Carter v. . DuncanSupreme Court of North Carolina · 1881
- Revell v. Thrash.Supreme Court of North Carolina · 1903
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