Pearson v. Thomason
Supreme Court of Alabama
Error to the Circuit Court of Talladega. Before the Hon. Nathan Cook. This was an action by plaintiffs against defendant, on a promissory note for $132 82, dated 26th January, 1842, at one day after date.
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Error to the Circuit Court of Talladega. Before the Hon. Nathan Cook. This was an action by plaintiffs against defendant, on a promissory note for $132 82, dated 26th January, 1842, at one day after date. It was in proof, that in the month of November, 1843, Pearson, one of the plaintiffs, told the defendant, who was then insolvent, that if he would pay him twenty-five dollars in money, they would strike off even, and commence anew: the defendant then went into an adjoining room, and returned with the money, which he handed to Pearson. Whilst defendant was out of the room to get the money,…
1Opinion of the CourtCollier, C. J.
The only question which it is neces*702sary to consider, is, whether, if a creditor say to his debtor, who is in insolvent circumstances, if he will pay a designated sum, not more than one-fifth of the debt, he would accept it in full satisfaction, and the debtor thereupon pay the sum named, can the creditor maintain an action against him for the recovery of the residue ?
In Steinman v. Magnus, 11 East’s Reports, 390, Lord Ellenborough said, “It is true, that if a creditor simply agree to accept less from his debtor than his just demand, that will bind him : but if upon the faith of such an…
2Cases cited4 opinions
- Booth v. SmithNew York Supreme Court · 1829
- Russell & Hall v. RogersNew York Supreme Court · 1833
- Jones v. BullittCourt of Appeals of Kentucky · 1822
- Allen v. RooseveltNew York Supreme Court · 1835
3Cited by12 opinions
- Robinson v. MurphySupreme Court of Alabama · 1881
- Hand Lumber Co. v. HallSupreme Court of Alabama · 1906
- Hamilton v. EdmundsonSupreme Court of Alabama · 1937
- Brown v. Lowndes CountySupreme Court of Alabama · 1918
- Brackin v. Owens Horse & Mule Co.Supreme Court of Alabama · 1916
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